Oregon Ltd.estimates the cost of its physical inventory at March 31 for use in interim financial statements.The rate of mark-up on cost is 25%.The following account balances are available: What is the estimated dollar value of the inventory at March 31?
A)$34,000
B)$78,000
C)$104,000
D)$121,500

Question

Oregon Ltd.estimates the cost of its physical inventory at March 31 for use in interim financial statements.The rate of mark-up on cost is 25%.The following account balances are available:  What is the estimated dollar value of the inventory at March 31?
A)$34,000 
B)$78,000 
C)$104,000 
D)$121,500

Quizplus · Accepted Answer

The Answer of Oregon Ltd.estimates the cost of its physical inventory at March 31 for use in interim financial statements.The rate of mark-up on cost is 25%.The following account balances are available:  What is the estimated dollar value of the inventory at March 31?
A)$34,000 
B)$78,000 
C)$104,000 
D)$121,500