To the nearest thousand,estimated ending inventory using the conventional retail method is:
A) $37,000.
B) $32,000.
C) $34,000.
D) $30,000.
Correct Answer:
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Q46: To the nearest thousand,estimated ending inventory is:
A)$41,000.
B)$37,000.
C)$51,000.
D)None
Q47: The conventional cost-to-retail percentage (rounded)is:
A)82.6%.
B)66.7%.
C)71.9%.
D)75.5%.
Q48: To the nearest thousand,estimated ending inventory is:
A)$55,000.
B)$52,000.
C)$57,000.
D)None
Q49: Cloverdale,Inc. ,uses the conventional retail inventory method
Q53: The conventional cost-to-retail percentage (rounded)is:
A)54.9%.
B)58.9%.
C)53.6%.
D)70.6%.
Q54: The estimated ending inventory at retail is:
A)$27,300.
B)$25,000.
C)$26,600.
D)$26,400.
Q55: Estimated ending inventory at cost is:
A)$90,720.
B)$83,500.
C)$91,600.
D)None of
Q56: The average cost-to-retail percentage is:
A)52.2%.
B)61.5%.
C)56.8%
D)55%.
Q66: When computing the cost-to-retail percentage for the
Q80: Using the dollar-value LIFO retail method for
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