Turturro Department Store Utilizes the Retail Inventory Method to Estimate

question 66

Multiple Choice

Turturro Department Store utilizes the retail inventory method to estimate its inventories.It calculated its cost to retail ratio during the period at 75%.Goods available for sale at retail amounted to $600,000 and goods were sold during the period for $420,000.The estimated cost of the ending inventory is

• A)$135,000.
• B)$180,000.
• C)$315,000.
• D)$450,000.

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Definitions:

Behavioral Education

An educational approach that focuses on teaching skills and behaviors through a system of rewards and consequences.

Consciousness Raising

An approach aimed at increasing awareness about oneself, one's problems, and the social factors influencing personal issues.

Counterconditioning

A behavior therapy technique where a maladaptive response is replaced with a more appropriate one through conditioning.

Generalization

The process by which a response is learned in one situation extends to different but similar situations, often discussed in the context of learning and behavior modification.