Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations: What amount should be reported as cost of goods sold for the year?
A) $273,600.
B) $272,861.
C) $275,000.
D) None of these answer choices are correct.

Question

Cloverdale, Inc., uses the conventional retail inventory method to account for inventory. The following information relates to current year's operations:  What amount should be reported as cost of goods sold for the year?
A) $273,600. 
B) $272,861. 
C) $275,000. 
D) None of these answer choices are correct.

Quizplus · Accepted Answer

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