Shoes-A-Lot Ltd.decided to adopt the retail method to value its inventory.The following information is found for 2005: 
Required: Determine the December 31,2005 inventory cost under the retail method-average cost basis.
Definitions:
Media Richness
Media richness theory posits that the effectiveness of communication varies with the richness of the medium used, rating from face-to-face (richest) to numerical documents (least rich).
Telephone
A communication device that transmits and receives sound, typically voices, over long distances using wire or radio technology.
A digital method of sending and receiving messages over the internet between individuals or groups.
Emotional Contagion
The phenomenon where emotions are transferred from one person to another, either consciously or unconsciously, leading to shared feelings among individuals or groups.
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