Dicer Uses the Conventional Retail Method to Determine Its Ending

question 71

Multiple Choice

Dicer uses the conventional retail method to determine its ending inventory at cost.Assume the beginning inventory at cost (retail) were $130,000 ($198,000) , purchases during the current year at cost (retail) were $685,000 ($1,100,000) , freight-in on these purchases totaled $43,000, sales during the current year totaled $1,050,000, and net markups (markdowns) were $24,000 ($36,000) .What is the ending inventory value at cost?

• A)$153,164.
• B)$156,165.
• C)$157,412.
• D)$236,000.

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Definitions:

Substitutability

The degree to which one product or service can be replaced by another without affecting functionality or satisfaction.

Alternatives

Different options or strategies available for consideration when making a decision.

Machiavellianism

is a personality trait characterized by a manipulative nature, a lack of morality, and a focus on personal gain.

Networking

Building and maintaining relationships and connections with others, typically for professional or social purposes.