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Snacks and Things had a closing physical inventory of $55,699. Snack and Things needs to place a cost value on this inventory. The beginning inventory

Snacks and Things had a closing physical inventory of $55,699. Snack and Things needs to place a cost value on this inventory. The beginning inventory had a retail value of $43,834 and a cost valuation of $20,388. Purchases for the year totaled $334,511 at retail and $178,399 at cost. What should the closing inventory be valued at cost?

$198,787

$29,264

$55,699

$20,388

None off the above

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