Hawkeye Auto Parts Uses the Average Cost Retail Method to Estimate

question 22

Multiple Choice

Hawkeye Auto Parts 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 $55,000 and $100,000,net purchases at cost and retail were $785,000 and $1,300,000,and sales during the first six months totaled $800,000.The estimated inventory at June 30,2016,would be:

• A)$330,000.
• B)$360,000.
• C)$362,300.
• D)None of these answer choices are correct.

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Definitions:

Teleological View

A philosophical perspective that interprets phenomena in terms of the purpose or goal they serve rather than the cause by which they arise.

World

The totality of entities, the whole of reality, or a particular realm of human experience or observation.

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A perspective that deals with questions of existence, reality, and the nature of the universe beyond the physical or empirical.

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