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Question 5 ABC company has the following information is available for June 2019- Retail Cost $ 100,000 $ 60,000 Inventory, 1 June 350,000 270.000 Purchases
Question 5 ABC company has the following information is available for June 2019- Retail Cost $ 100,000 $ 60,000 Inventory, 1 June 350,000 270.000 Purchases 1,500 2,500 Purchase returns Freight-in 5.500 9,500 Net markups Net markdowns 16,000 Sales 400,000 3.500 Sales discount If ABC company uses the cost method to determine its ending inventory at cost. what is the cost to retail ratio? OA 75.3 . 82.096 C. 57.0 D. 67.56
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