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.

---

Definitions:

Synonyms

Words that have the same or nearly the same meaning as another word in the same language.

Numerical Connectors

Terms or symbols used to link numbers in a sequence or to show relationships between them.

Fee-based

Referring to services or transactions that are provided or carried out for a set charge or fee.

Online Legal Research

The process of conducting research relevant to legal matters using the internet and digital databases.