Major Grey Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: What cost to retail ratio should be used to estimate ending inventory?
A) Rs187,500,000 ÷ Rs260,000,000
B) Rs187,500,000 ÷ Rs465,000,000
C) Rs185,000,000 ÷ Rs260,000,000
D) Rs185,000,000 ÷ Rs265,000,000

Question

Major Grey Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year:  What cost to retail ratio should be used to estimate ending inventory?
A) Rs187,500,000 ÷ Rs260,000,000 
B) Rs187,500,000 ÷ Rs465,000,000 
C) Rs185,000,000 ÷ Rs260,000,000 
D) Rs185,000,000 ÷ Rs265,000,000

Quizplus · Accepted Answer

The Answer of Major Grey Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year:  What cost to retail ratio should be used to estimate ending inventory?
A) Rs187,500,000 ÷ Rs260,000,000 
B) Rs187,500,000 ÷ Rs465,000,000 
C) Rs185,000,000 ÷ Rs260,000,000 
D) Rs185,000,000 ÷ Rs265,000,000

Major Grey Company Uses the Retail Inventory Method to Value