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 $87,000 and $138,000, net purchases at cost and retail were $330,000 and $498,000, and sales during the first six months totaled $508,000. The estimated inventory at June 30,2024 , would be: Note: Round cost-to-retail ratio to the nearest whole percentage. Mutiple Choice $87780 $7.280 584,480 $79,530

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