Henke Co.uses the retail inventory method to estimate its inventory for interim statement purposes.Data relating to the computation of the inventory at July 31, 2010, are as follows:
Under the lower-of-cost-or-net realizable value method, Henke's estimated inventory at July 31, 2010 is
A) $72,000.
B) $84,000.
C) $96,000.
D) $120,000.
Correct Answer:
Verified
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