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0000 ABC company has the following information is available for June 2019: Retail Cost Inventory, 1 June $ 60,000 $ 100,000 Purchases 270,000 350,000 Purchase
0000 ABC company has the following information is available for June 2019: Retail Cost Inventory, 1 June $ 60,000 $ 100,000 Purchases 270,000 350,000 Purchase returns 2,500 1,500 Freight-in 5,500 - Net markups 9,500 Net markdowns Sales 16,000 400,000 Sales discount 3,500 57.0% B. 67.5% 75.3% D. 82.0% If ABC company uses the cost method to determine its ending inventory at cost. what is the cost to retail ratio
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