Use the Following Information for Questions
Trent Co -The Ending Inventory at Retail Should Be
A)$160,000

question 47

Multiple Choice

Use the following information for questions
Trent Co.uses the retail inventory method.The following information is available for the current year. $\begin{array}{lcc}&\text { Cost }& \text { Retail }\\\text { Beginning inventory } & \$ 78,000 & \$ 122,000 \\\text { Purchases } & 295,000 & 415,000 \\\text { Freight-in } & 5,000 & - \\\text { Employee discounts } & - & 2,000 \\\text { Net markups } & - & 15,000 \\\text { Net Markdowns } & - & 20,000 \\\text { Sales } & - & 390,000\end{array}$
-The ending inventory at retail should be

• A)$160,000.
• B)$150,000.
• C)$144,000.
• D)$140,000.

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Definitions:

Oligopolistic Firms

Companies that are part of an oligopoly, a market structure with a small number of large firms dominating the industry, often leading to strategic behavior.

High Profits

Increased financial gains resulting from operating activities, typically seen as significantly above the average or expected level.

Market Structure Types

Various classifications of market systems based on the number of firms in the market, the nature of the product, and the degree of competition, including perfect competition, monopoly, oligopoly, and monopolistic competition.

Compete On Quality

a business strategy where companies focus on offering higher quality products or services instead of competing on prices.