The Following Information Relates to a Firm with Several Similar

question 64

Multiple Choice

The following information relates to a firm with several similar products: $\begin{array} { | l | l | l | } \hline & \text { Cost } & \text { Retail } \\\hline \text { Beginning inventory } & \$ 29,000 & \$ 45,000 \\\hline \text { Purchases } & 140,000 & 190,000 \\\hline \text { Purchases discounts taken } & 3,000 & \\\hline \text { Purchases returns } & 5,000 & 8,000 \\\hline \text { Freight-in } & 20,000 & \\\hline \text { Net mark-ups } & & 40,000 \\\hline \text { Net markdowns } & & 12,000 \\\hline \text { Sales } & & 190,000 \\\hline \text { Employee discounts } & 3,000 \\\hline\end{array}$
Using the retail inventory method and the average cost flow assumption (not LCM) , what is ending inventory? When performing your calculations, round your cost ratios to one decimal point.

• A) $44,888
• B) $44,020
• C) $42,036
• D) $41,614

---

Definitions:

Deny Symptoms

The action of not acknowledging or recognizing the physical or mental indicators of a disease or condition.

Repress Symptoms

The process of consciously or unconsciously avoiding or ignoring signs of illness or distress.

Symptom Characteristic

The specific nature or features of symptoms experienced by an individual, such as duration, intensity, and frequency.

Medical Care

The prevention, treatment, and management of illness and the preservation of mental and physical well-being through the services offered by the medical, nursing, and allied health professions.