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Vlad1618 [11]
3 years ago
6

The following data concerning the retail inventory method are taken from the financial records of Ivanhoe Company.

Business
1 answer:
SSSSS [86.1K]3 years ago
5 0

Answer:

B. $246,500

Explanation:

Retail Cost

Beginning inventory

$278,000 $201,000

Purchases

$1,280,000. $889,000

Freight-in

--- $23,500

Net markups

$78,700

Net markdown

$56,200

Sales

$1,334,000

Ending inventory at retail would be;

= Beginning inventory + Purchases + Net markups - Net markdowns - Sales

= $278,000 + $1,280,000 + $78,700 -

$56,200 - $1,334,000

=$246,500

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learn more about Equipment: brainly.com/question/24194507

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