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15. On the basis of the following data, what is the estimated cost of the inventory on May 31 using the retail method? May 1

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15. On the basis of the following data, what is the estimated cost of the inventory on May 31 using the retail method? May 1 May 1-31 May 1-31 Inventory Purchases Sales Cost $140,000 187,600 Retail $168,000 300,000 400,000 a. $68,000 b. $327.600 c. $47,600 d. $51,000

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