Jane Company used the retail inventory method to estimate inventory at year-end.

 

	Cost	Retail
Beginning Inventory	720,000	1,000,000
Purchases	4,080,000	6,300,000
Net Mark up		700,000
Net Markdown		500,000
Sales		6,820,000
Estimated normal loss		80,000

 

Under the conservative retail method, what is the goods available for sale- retail?

 

a. 7,300,000

b. 8,000,000

c. 7,500,000

d. 7,920,000