A Company Reports the Following Information Regarding Its Inventory

question 16

Multiple Choice

A company reports the following information regarding its inventory. Beginning inventory: cost is $80,000;retail is $130,000
Net purchases: cost is $65,000;retail is $120,000
Sales at retail: $145,000
The year-end inventory shows $135,000 worth of merchandise available at retail prices.What is the cost of the ending inventory calculated using the retail inventory method?

• A)$135,000.
• B)$73,125.
• C)$78,300.
• D)$72,900.
• E)$105,000.

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Definitions:

Ecocentrist

An individual or philosophy that places intrinsic value on all living organisms and their natural environment, emphasizing the importance of ecological balance.

Ecosphere

The global interconnection of all ecosystems and living organisms, functioning as a single self-regulating entity.

Compassion

The emotional response to perceiving suffering and involves an authentic desire to help alleviate that suffering.

Instrumental Value

The value of something not for what it is itself, but for its utility in achieving something else.