Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2018: The average cost-to-retail percentage is:
A) 52.2%.
B) 61.5%.
C) 56.8%.
D) 55%.

Question

Marilee's Electronics uses a periodic inventory system and the average cost retail method to estimate ending inventory and cost of goods sold. The following data is available from the company records for the month of June 2018:  The average cost-to-retail percentage is:
A) 52.2%. 
B) 61.5%. 
C) 56.8%. 
D) 55%.

Quizplus · Accepted Answer

11ea937b_3624_7225_a419_3b3f49ee101b_TB2599_00

Marilee's Electronics Uses a Periodic Inventory System and the Average