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

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

Cost Retail
May 1 Merchandise Inventory $29,434 $49,056
May 1-31 Purchases 42,982 67,744
May 1-31 Sales 101,600

a. $15,200

b. $9,424

c. $9,120

d. $29,184

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