Use the Following Information for the Following Question -If the Ending Inventory Is to Be Estimated Using the

question 35

Multiple Choice

Use the following information for the following question:
Tang Inc. uses the retail inventory method. The following information is available for the current year:
$\begin{array}{lll} & \text { Cost } & \text { Retail } \\\text { Beginning inventory } & \$ 117,000 & \$ 183,000 \\\text { Purchases } & 442,000 & 623,000 \\\text { Freight-in } & 8,000 & - \\\text { Employee discounts } & - & 3,000 \\\text { Net markups } & - & 22,000 \\\text { Net markdowns } & - & 30,000 \\\text { Sales } & - & 585,000\end{array}$

-If the ending inventory is to be estimated using the retail method, the calculation of the cost-to-retail ratio should be based on cost and retail of

• A) $450,000 and $645,000.
• B) $567,000 and $828,000.
• C) $559,000 and $795,000.
• D) $567,000 and $798,000.

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Definitions:

Structural Functionalism

A sociological theory that views society as a complex system whose parts work together to promote solidarity and stability, emphasizing the interdependence of social institutions.

Symbolic Interactionism

A sociological perspective that focuses on how people use symbols and meanings to communicate and create social life.

Cultural Leveling

A process in which cultures that were once distinct become increasingly similar to one another through globalization and international communication.

Cultural Diffusion

The spread of cultural beliefs and social activities from one group to another, including the sharing of language, religion, technologies, and more.