The following data concerning the retail inventory method are taken from the financial records of Welch Company. Cost(PHP) Retail(PHP) Beginning inventory 49,000 70,000 Purchases 224,000 320,000 Freight-in 6,000 ------- Net markups -------- 20,000 Net markdowns -------- 14,000 Sales -------- 336,000 The ending inventory at retail should be

Select one:

a. 64,000.

b. 74,000.

c. 60,000.

d. 42,000.