Use the following information for following three questions The following data concerning inventory of Welch Company g the retail inventory method are taken from the financial records Retail 5 200,000 Purchases Freight-in Net markups Net markdowns Sales 950,000 805,000 $250,000 18,000 80,000 30,000 950,000 928. The ending inventory at retail should be a. $300,000. b. $320,000, c. $280,000. d. $260,000. Q29. If the ending inventory is to be valued at approximately the lower of cost or market, he calculation of the cost-to-retail ratio should be based on goods available for sale at (1) cost and (2) retail, respectively of a. $1,005,000 and $1,280,000 b. $1,023,000 and $1,170,000. c. $1,023,000 and $1,250,000. d. $1,023,000 and $1,280,000. Q30. If Welch uses the LCM retail method, the ending inventory at cost should be a. $245,520. b. $239,766 c. $157,699. d. $259,377. Q31. Mendenhall Corporation constructed a building at a cost of $10,000,000. Weighted- average accumulated expenditures were $4,000,000, actual interest was $400,000, and avoidable interest was $200,000. If the salvage value is $800,000, and the useful life is 40 years, depreciation expense for the first full year using the straight-line method is a. $235,000. b. $240,000. c. $255,000 d. $335,000. 10