Benny's Bed Co. 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 September 2018.
- The average cost-to-retail percentage (rounded) is:
A) 74.5%.
B) 55.6%.
C) 57.4%.
D) 58.7%.

Question

Benny's Bed Co. 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 September 2018. 
- The average cost-to-retail percentage (rounded) is:
A) 74.5%. 
B) 55.6%. 
C) 57.4%. 
D) 58.7%.

Quizplus · Accepted Answer

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