Multiple Choice
A company reported the following information regarding its inventory: Beginning inventory: cost of $63,000; retail of $140,000
Net purchases: cost $42,000; retail $84,000 Sales at retail: $160,000
The year-end inventory showed $64,000 worth of merchandise available at retail prices. What is the cost of the ending inventory?
A) $40,000.
B) $32,000.
C) $30,000.
D) $28,800.
Correct Answer:
Verified
Correct Answer:
Verified
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