A retail store has goods available for sale of $2 million at retail and $1,100,000 at cost,and ending inventory of $160,000 at retail.What is the estimated cost of ending inventory?
A) $128,000
B) $160,000
C) $110,000
D) $88,000
Correct Answer:
Verified
Q130: Why is the LIFO cost flow assumption
Q131: A retail store had goods available for
Q132: A retail store has beginning inventory of
Q133: Average inventory equals $200,000,and cost of goods
Q134: Which of the following accounts would not
Q136: Inventory turnover is expressed in terms of
A)days.
B)a
Q137: An understatement of year 1's beginning inventory
Q138: If cost of goods sold is understated
Q139: How is the matching rule applied when
Q140: A retail store prices its goods to
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents