John's Bikes uses the retail inventory method. Sales at retail were $120,000. Net purchases were $68,000 at cost and $124,000 at
retail. Beginning inventory was $32,000 at cost and $76,000 at retail. Using the retail method, what was their ending inventory at cost? A.24,000 B.120,000 C.40,000 D.60,000
1 answer:
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