Attempted: $\frac{6}{45}$

Question $7$

A retail entity maintains a markup of $25\%$ based on cost$.$ The entity has the following information for the current year: Purchases of merchandise $690,000,$ Freight$-$in on purchases $25,000,$ Sales $900,000,$ and Ending inventory $80,000$ Beginning inventory was

Select an option

$40000$

$85000$

$110,000$

$265,000$