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Follow data on Beta Corp's inventory: Surgical Equipment $266 162 17 Surgical Supplies $ 131 Selling price Cost Costs to sell Rehab Equipment $ 345 260 21 Rehab Supplies $ 154 151 10 99 11 In applying the lower of cost or net realizable value rule, the inventory of surgical equipment would be valued at: Multiple Choice 0 $175. $249. $230. O $162 On July 8, 2020, the warehouse of Beta Corp. burned down, destroying all of the company's inventory. Beta Corp.'s records show the following: Sales, January 1 through July 8 Inventory, January 1 Purchases, January 1 through July 8 Gross profit ratio $685,000 137,000 644,000 21% What is the estimated value of Beta Corp.'s inventory on July 8 immediately prior to the fire? Multiple Choice $240,250. $541.150. O $239,850. $135,240. Beta Corp. started operations on January 1, 2020, and uses the LIFO retail method to estimate ending inventory. The firm's records for the year ended December 31, 2020, include the following: Cost Retail Beginning inventory $ 68,000 $111,000 Net purchases 332,290 490,000 Net markups 27,000 Net markdowns 47,000 Net sales 438,000 What is Beta Corp.'s cost-to-retail ratio? Multiple Choice 70.7%. O O 68.9% 64.3%. 61.3%. Beta Corp. adopted the dollar-value LIFO retail method when it began operations in early 2019 (its base year). Beta Corp.'s beginning inventory for 2020 was $36,500 at cost and $72,500 at retail prices. At the end of 2020, it computed its estimated ending inventory at retail to be $121,000. Assuming its cost-to-retail ratio for 2020 transactions was 50%, what is the inventory balance that Beta Corp. would report in its 12/31/2020 balance sheet? Multiple Choice $72,500. The inventory balance as of 12/31/2020 cannot be determined with the given information. $65,250. D $121,000