Talbot Company prepares monthly income statements. A physical inventory is taken only at year-end; henec, month-end inventories must be estimated. All sales are made on account. The rate of markup on cost is 50 percent. The following information relates to the month of May: The estimated cost of the May 31 inventory is A) $24,000 B) $28,000 C) $44,000. D) $38,000