Business, 19.12.2019 00:31 texaslady36

James sales company uses the retail inventory method to value its merchandise inventory. the following information is available for the current year: cost retail beginning inventory$ 30,000$ 45,000 purchases175,000240,000 freight-in2,500- net markups-9,500 net markdowns-10,000 sales revenue-205,000 if the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost-to-retail ratio?

a. $207,500 ÷ $285,000
b. $207,500 ÷ $293,500
c. $207,500 ÷ $295,000
d. $207,500 ÷ $294,500
e. 205,000 ÷ $293,500

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James sales company uses the retail inventory method to value its merchandise inventory. the followi...

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