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Vega Corp. uses the average cost retail method to estimate the value of its inventory, Vega Corp.'s records for the first six months of 2020

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Vega Corp. uses the average cost retail method to estimate the value of its inventory, Vega Corp.'s records for the first six months of 2020 indicate that beginning inventory at cost and retail were $79,500 and $133,000, net purchases at cost and retail were $325.000 and $493,000, and sales during the period totaled $503,000. The estimated inventory as of June 30, 2020, would be: Multiple Choice $65,750 $75,000 583.250 579.950

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