Question: A company uses the average cost retail method to estimate inventories. Data for the first six months of 2024 include: beginning inventory at cost and

A company uses the average cost retail method to estimate inventories. Data for the first six months of 2024 include: beginning inventory at cost and retail were $61,500 and $121,000, net purchases at cost and retail were $313,000 and $481,000, and sales during the first six months totaled $491,000. The estimated inventory at June 30, 2024, would be: Note: Round cost-to-retail ratio to the nearest whole percentage. Multiple Choice O $72,120 $55,620 $63,870

A compary uses the average cost retail method to estimate inventories. Data for the first six months of 2024 include: beginning inventory at cost and retail were $61,500 and $121,000, net purchases at cost and retail were $313,000 and $481,000, and sales during the first six months totaled $491,000. The estimated inventory at June 30,2024 , would be: Note: Round cost-to-retail ratio to the nearest whole percentoge. Multiple Choice $72,120 $55.620 $63,870

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