If Carmel knows that the ending inventory at retail for her corner store is $16 000 and her cost to retail percentage is 65%, her ending inventory at cost can be estimated as:

Question

Quizplus · Accepted Answer

To find the ending inventory at cost, we need to multiply the ending inventory at retail by the cost-to-retail percentage, which is 65%. So the calculation would be:
$16,000 x 0.65 = $10,400
Therefore, the answer is B.

If Carmel Knows That the Ending Inventory at Retail for Her