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Portman uses the average cost retail inventory method. Expressed in millions of dollars, information about Portman's 2011 inventory account is reported in the table below:
Portman uses the average cost retail inventory method. Expressed in millions of dollars, information about Portman's 2011 inventory account is reported in the table below: Cost Retail $155 $200 $1,600 Beginning Inventory Purchases Net Markups Net Markdowns Net Sales $2,400 $100 $360 $2,150 At what amount would Portman record its inventory on its 12/31/2011 balance sheet? O a. $190 o b. $123.50 O c. $142.50 O d. $1,755 O e. None of the above is correct
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