Use the following information for questions 125 through 129.
Plank Co. uses the retail inventory method. The following information is available for the current year.
-If the ending inventory is to be valued at approximately lower of average cost or market, the calculation of the cost ratio should be based on cost and retail of
A) $900,000 and $1,290,000.
B) $900,000 and $1,284,000.
C) $1,119,000 and $1,650,000.
D) $1,134,000 and $1,656,000.

Question

Use the following information for questions 125 through 129.
Plank Co. uses the retail inventory method. The following information is available for the current year. 
-If the ending inventory is to be valued at approximately lower of average cost or market, the calculation of the cost ratio should be based on cost and retail of
A) $900,000 and $1,290,000. 
B) $900,000 and $1,284,000. 
C) $1,119,000 and $1,650,000. 
D) $1,134,000 and $1,656,000.

Quizplus · Accepted Answer

The Answer of Use the following information for questions 125 through 129.
Plank Co. uses the retail inventory method. The following information is available for the current year. 
-If the ending inventory is to be valued at approximately lower of average cost or market, the calculation of the cost ratio should be based on cost and retail of
A) $900,000 and $1,290,000. 
B) $900,000 and $1,284,000. 
C) $1,119,000 and $1,650,000. 
D) $1,134,000 and $1,656,000.

Use the Following Information for Questions 125 Through 129