Bert Logistics Has the Following Company Information for August: Goods

question 108

Multiple Choice

Bert Logistics has the following company information for August: goods available for sale at cost are $19,000, retail is $28,500, and sales at retail equal $21,500. Bert has a normal gross profit of 35%. The cost of estimated ending inventory under the gross profit method is: (Round any percentages to two decimal places, X.XX%, and your final answer to the nearest dollar.)

• A) $7,000.
• B) $11,475.
• C) $4,550.
• D) $5,025.