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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 1 Inventory $23,870 $39,780 May 1-31 Purchases 39,530 72,460 May 1-31 Sales 93,690 Do not round intermediate calculations. Round your final answer to the nearest whole dollar. a. $30,290 b. $11,970 c. $22,448 d. $10,478

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