Danner, Ltd.estimates the cost of its physical inventory at March 31 for use in an interim financial statement.The rate of mark-up on cost is 25%.The following account balances are available: The estimate of the cost of inventory at March 31 would be
A)$34,000.
B)$104,000.
C)$121,500.
D)$78,000.

Question

Danner, Ltd.estimates the cost of its physical inventory at March 31 for use in an interim financial statement.The rate of mark-up on cost is 25%.The following account balances are available:  The estimate of the cost of inventory at March 31 would be
A)$34,000. 
B)$104,000. 
C)$121,500. 
D)$78,000.

Quizplus · Accepted Answer

The Answer of Danner, Ltd.estimates the cost of its physical inventory at March 31 for use in an interim financial statement.The rate of mark-up on cost is 25%.The following account balances are available:  The estimate of the cost of inventory at March 31 would be
A)$34,000. 
B)$104,000. 
C)$121,500. 
D)$78,000.