Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2018: To the nearest thousand, estimated ending inventory is:
A) $55,000.
B) $52,000.
C) $57,000.
D) None of these answer choices are correct.

Question

Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2018:  To the nearest thousand, estimated ending inventory is:
A) $55,000. 
B) $52,000. 
C) $57,000. 
D) None of these answer choices are correct.

Quizplus · Accepted Answer

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Marilee's Electronics Uses a Periodic Inventory System and the Average