Jones Co Uses the Retail Inventory Method

question 62

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

Recognize the historical significance of inventions like the telegraph to the evolution of media.

Identify career opportunities in the communications field, focusing on PR agency specialties.

Comprehend the impact of social media's character limitations on network communication.

Acknowledge the demands of media relations in a 24/7 social media environment.

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Definitions:

Diet Drug

A medication or supplement intended to help in weight loss by suppressing appetite, increasing metabolism, or preventing fat absorption.

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Negatively Correlated

A statistical relationship between two variables in which one decreases as the other increases, and vice versa.

Bystanders

Individuals who are present at an event or incident but do not take part in it.