Lacy's Linen Mart Uses the Average Cost Retail Method to Estimate

question 81

Multiple Choice

Lacy's Linen Mart uses the average cost retail method to estimate inventories.Data for the first six months of 2016 include: beginning inventory at cost and retail were $60,000 and $120,000,net purchases at cost and retail were $312,000 and $480,000,and sales during the first six months totaled $490,000.The estimated inventory at June 30,2016,would be:

• A)$ 68,200.
• B)$ 55,000.
• C)$ 71,500.
• D)$ 63,250.

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Definitions:

Arguments

Exchanges of diverging or opposite views, often involving debate or conflict over a particular subject or idea.

Perception of Threats

An individual's recognition and evaluation of potential harm or danger in their environment.

Actual Threats

Genuine risks or dangers that have the potential to cause harm or damage.

Persuasion Process

The act or method of influencing someone's beliefs, attitudes, intentions, motivations, or behaviors through argument, reasoning, or appeal.