Use the following information for questions.
Tang Inc.uses the retail inventory method.The following information is available for the current year:
-If the ending inventory is to be valued at approximately lower of average cost and market, the calculation of the cost ratio should be based on cost and retail of
A)$450,000 and $645,000.
B)$450,000 and $642,000.
C)$559,000 and $825,000.
D)$567,000 and $828,000.

Question

Use the following information for questions.
Tang Inc.uses the retail inventory method.The following information is available for the current year: 
-If the ending inventory is to be valued at approximately lower of average cost and market, the calculation of the cost ratio should be based on cost and retail of
A)$450,000 and $645,000. 
B)$450,000 and $642,000. 
C)$559,000 and $825,000. 
D)$567,000 and $828,000.

Quizplus · Accepted Answer

The Answer of Use the following information for questions.
Tang Inc.uses the retail inventory method.The following information is available for the current year: 
-If the ending inventory is to be valued at approximately lower of average cost and market, the calculation of the cost ratio should be based on cost and retail of
A)$450,000 and $645,000. 
B)$450,000 and $642,000. 
C)$559,000 and $825,000. 
D)$567,000 and $828,000.

Use the Following Information for Questions