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On the basis of the following data, what is the estimated cost of the inventory on May 31 using the retail method? Cost Retail May

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On the basis of the following data, what is the estimated cost of the inventory on May 31 using the retail method? Cost Retail May 01 Inventory $23,930 $39,890 May 01-31 Purchases (net) $37,420 $61,390 May 01-31 Sales (net) $90,080 Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Select the correct answer. $20.730 $12.150 51.964 56734

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