Use the Following Information for Questions

question 33

Multiple Choice

Use the following information for questions
Toby Co.uses the retail inventory method.The following information is available for the current year.

-The approximate cost of the ending inventory by the conventional retail method is

• A)$143,850.
• B)$142,380.
• C)$147,000.
• D)$153,720.

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Definitions:

Deposit

A sum of money placed into an account or given as a part payment towards a purchase, often to secure it or show commitment.

Check Register

A record of financial transactions, especially checks written and deposits made, in a checking account.

Deposit

A sum of money placed into an account or with a financial institution as a part of a transaction or for safekeeping.

Check Register

A record book or a ledger that tracks all the checks written, deposits made, and current balance of a checking account.