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ABC company has the following information is available for June 2019 Inventory, 1 June Purchases Cost $ 60,000 270,000 2,500 5,500 Retail $100,000 Purchase returns
ABC company has the following information is available for June 2019 Inventory, 1 June Purchases Cost $ 60,000 270,000 2,500 5,500 Retail $100,000 Purchase returns Freight-in Net markups Net markdowns Sales Sales discount 350,000 1.500 9,500 16,000 400,000 3.500 If ABC company uses the cost method to determine its ending inventory at cost. what is the cost to retail ratio? A. 82.0% B. 75.3% C. 67.5% D. 57.0% 0000
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