A Company Has Goods Available for Sale of $500,000 at Retail

question 87

Multiple Choice

A company has goods available for sale of $500,000 at retail and $350,000 at cost.It also had sales of $420,000 for the period.What is the estimated cost of ending inventory,using the retail method?

• A)$56,000
• B)$76,000
• C)$80,000
• D)$126,000

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