Portman Inc. uses the conventional retail inventory method. Expressed in millions of dollars, information about Portman's 2018 inventory account is expressed in the table below: What is the value of Portman's inventory at 12/31/2018?
A) $150 million.
B) $252 million.
C) $300 million.
D) None of these answer choices are correct.

Question

Portman Inc. uses the conventional retail inventory method. Expressed in millions of dollars, information about Portman's 2018 inventory account is expressed in the table below:  What is the value of Portman's inventory at 12/31/2018?
A) $150 million. 
B) $252 million. 
C) $300 million. 
D) None of these answer choices are correct.

Quizplus · Accepted Answer

$150 million is correct. The following table shows the correct computations: 11ea937b_3625_f8df_a419_29ee4c15cac5_TB2599_00