Kesler, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 25%. The following account balances are available: The estimate of the cost of inventory at March 31 would be
A) $168,000.
B) $288,000.
C) $318,000.
D) $224,000.

Question

Kesler, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 25%. The following account balances are available:  The estimate of the cost of inventory at March 31 would be
A) $168,000. 
B) $288,000. 
C) $318,000. 
D) $224,000.

Quizplus · Accepted Answer

The Answer of Kesler, Inc. estimates the cost of its physical inventory at March 31 for use in an interim financial statement. The rate of markup on cost is 25%. The following account balances are available:  The estimate of the cost of inventory at March 31 would be
A) $168,000. 
B) $288,000. 
C) $318,000. 
D) $224,000.