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A company has goods available for sale during a period at cost and at retail of $90,000 and $150,000, respectively. If sales during the period

A company has goods available for sale during a period at cost and at retail of $90,000 and $150,000, respectively. If sales during the period amounted to $120,000, an estimate of the ending inventory at cost at the end of the period under the retail method is

a. $72,000

b. $30,000

c. $48,000

d. $18,000

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