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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