A Company Reported the Following Information Regarding Its Inventory

question 169

Multiple Choice

A company reported the following information regarding its inventory. Beginning inventory: cost is $70,000; retail is $130,000
Net purchases: cost is $65,000; retail is $120,000
Sales at retail: $145,000
The year-end inventory showed $105,000 worth of merchandise available at retail prices. What is the cost of the ending inventory?

• A) $48,300.
• B) $56,700.
• C) $56,441.
• D) $78,300.
• E) $105,000.

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Definitions:

Phimosis

A condition where the foreskin of the penis cannot be pulled back over the glans penis, potentially requiring medical attention.

Parenchyma

The functional tissue in an organ, as distinguished from the connective and supporting tissue.

Condyloma

A wart-like growth on the genital or anal skin, often as a result of a sexually transmitted virus, such as human papillomavirus (HPV).

Exacerbation

A worsening in the severity of a disease or its symptoms.