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The Information Below Is Given for the Providence Book Company  Providence Book Company May 1 - May 31 \begin{array}{llcc} \text { Providence Book Company } & \\ \text {May 1 - May 31 } &\\\end{array}

Question 68

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The information below is given for the Providence Book Company:  Providence Book Company May 1 - May 31 \begin{array}{llcc} \text { Providence Book Company } & \\ \text {May 1 - May 31 } &\\\end{array}

 Cost  Retail  Beginning Inventory, May 1 $165,000$200,000 Purchases - May $550,000$625,000 Net Sales - May $600,000\begin{array}{lll} & \text { Cost } & \text { Retail } \\\hline \text { Beginning Inventory, May 1 } & \$ 165,000 & \$ 200,000 \\\text { Purchases - May } & \$ 550,000 & \$ 625,000 \\\text { Net Sales - May } & \$ 600,000 &\end{array}
Using this information, calculate the following:
A)Goods available for sale at cost: _________
B)Goods available for sale at retail: _________
C)Cost ratio: (round to nearest tenth of a percent) _________
D)Ending inventory at retail: _________
E)Ending inventory at cost: _________

Correct Answer:

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a.$715,000
b.$825,00...

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