Jones Co Uses the Retail Inventory Method

question 37

Multiple Choice

Jones Co. uses the retail inventory method. Given the following data, what is the ending inventory at cost? Sales at retail $80,000, net purchases at cost $41,200, net purchases at retail $66,800, beginning inventory at cost $22,400, beginning inventory at retail $36,800. Round cost ratio to the nearest whole percent.

• A) $23,600
• B) $63,600
• C) $14,936
• D) $14,396
• E) None of these

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Definitions:

Polytypic

Describing the expression of genetic variants in different frequencies in different populations of a species.

Gene Flow

The transfer of genetic variation from one population to another, which can alter the composition of the gene pool.

Inbred

Resulting from breeding among close relatives, often leading to a higher chance of heritable genetic disorders.

Epicanthic Eye Fold

A skin fold of the upper eyelid that covers the inner corner of the eye, common among East and Southeast Asian populations and some other ethnic groups.