Major Grey Company Uses the Retail Inventory Method to Value

question 188

Multiple Choice

Major Grey Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: What cost to retail ratio should be used to estimate ending inventory?

• A) Rs187,500,000 ÷ Rs260,000,000
• B) Rs187,500,000 ÷ Rs465,000,000
• C) Rs185,000,000 ÷ Rs260,000,000
• D) Rs185,000,000 ÷ Rs265,000,000

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Definitions:

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