Boxer IncUses the Conventional Retail Method to Determine Its Ending Inventory

question 60

Multiple Choice

Boxer Inc.uses the conventional retail method to determine its ending inventory at cost.Assume the beginning inventory at cost (retail) were $65,500 ($99,000) , purchases during the current year at cost (retail) were $568,000 ($865,600) , freight-in on these purchases totaled $26,500, sales during the current year totaled $811,000, and net markups were $69,000.What is the ending inventory value at cost?

• A)$222,600.
• B)$174,366.
• C)$142,241.
• D)$152,308.

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