Chewy Candy Has a Beginning Inventory of $1,000 with a Retail

question 71

Multiple Choice

Chewy Candy has a beginning inventory of $1,000 with a retail value of $1,800.June purchases were $3,000,with a retail value of $4,700 and retail sales were $4,200.What is the June 30 estimated ending inventory at cost under the retail method?

• A)$351
• B)$949
• C)$4,161
• D)$1,416

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Definitions:

Simplify

To simplify a mathematical expression or problem to its most basic version.

Competitive Output Markets

Markets where multiple firms sell similar or identical products, and prices are determined through competition among sellers.

Exponent

In mathematics, a number indicating how many times a base is to be multiplied by itself.

Binomial

A polynomial expression that contains exactly two terms, typically written in the form a+b.