Crosby Department Store Estimates Inventory by Using the Retail Inventory

question 115

Multiple Choice

Crosby Department Store estimates inventory by using the retail inventory method. The following information was developed: $\begin{array}{lrr}& \underline{\text {At Cost}}& \underline{\text {At Retail}}\\\text { Beginning inventory } & \$ 465,000 & \$750,000\\\text { Goods purchased } & 900,000 & 1,350,000 \\\text { Net sales } & & 1,500,000\end{array}$
The estimated cost of the ending inventory is

• A) $210000.
• B) $372000.
• C) $390000.
• D) $400000.

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Definitions:

Variability

The extent to which data points in a statistical or data set differ from each other and from the average.

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