The Rebecca Company Provided the Following Data for Its December

question 144

Multiple Choice

The Rebecca Company provided the following data for its December 31, 2014, inventory maintained on the retail basis. $\begin{array}{c}\begin{array}{lll}\text { At Retall } \\\$ 225,000 \\446,000 \\45,750 \\(32,000) \\575,000 \end{array}\begin{array}{lll}\text {At Cost}\\\$ 165,000 \\275,000\\\\\\\\\end{array}\begin{array}{lll}\\\text {Beginning inventory}\\\text {Purchases}\\\text {Markps (net) }\\\text {Mark downs(net) }\\\text {Sales}\end{array}\end{array}$
What is the estimated inventory at December 31, 2014, valued at lower of average cost or market?

• A) $67,333
• B) $75,000
• C) $67,374
• D) $50,000

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