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upton upton
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6 years ago
Compute the cost of ending inventory using the retail method when goods available for sale at cost are $15,000, retail is $25,000, and sales at retail equal $20,000. What will the cost ratio be? What will the cost of ending inventory be?
A) Cost ratio 75%; ending inventory $10,000
B) Cost ratio 60%; ending inventory $5,000
C) Cost ratio 70%; ending inventory $12,000
D) Cost ratio 60%; ending inventory $3,000
Textbook 
College Accounting: A Practical Approach

College Accounting: A Practical Approach


Edition: 13th
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keytwokeytwo
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6 years ago
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upton Author
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6 years ago
Helped a lot
Turboturner
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Yesterday
Thanks for your help!!
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Thank you, thank you, thank you!
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