Bright Garden Center Had the Following Data for May The Cost of the Estimated Inventory on May 31 Under

question 122

Multiple Choice

Bright Garden Center had the following data for May: $\begin{array} { | l | r | r | } \hline & \text { Cost Price } & \text { Retail Price } \\\hline \text { Beginning inventory } & \$ 1,000 & \$ 1,600 \\\hline \text { Purchases } & 2,500 & 4,650 \\\hline \text { Sales } & & 4,850 \\\hline\end{array}$ The cost of the estimated inventory on May 31 under the retail method is:

• A)$616.
• B)$784.
• C)$1,400.
• D)$3,500.

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