Question: Question 25 of 30 < > -/2 E Current Attempt in Progress Ivanhoe Sales Company uses the retail inventory method to value its merchandise

Question 25 of 30 < > -/2 E Current Attempt in Progress

Question 25 of 30 < > -/2 E Current Attempt in Progress Ivanhoe Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost Retail Beginning inventory $20000 $35000 Purchases 90000 160000 Freight-in Net markups Net markdowns 1500 7500 5000 Employee discounts 1000 Sales revenue 105000 If the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost to retail ratio? $111500 $195000 $111500+$202500 $110000 $200000 O $111500 $197500

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