Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2019 include: beginning inven

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3 years ago

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Lacy's Linen Mart uses the retail method to estimate inventories. Data for the first six months of 2019 include: beginning inven

tory at cost and retail were $60,000 and $120,000, net purchases at cost and retail were $312,000 and $480,000, and sales dur ing the first six months totaled $490,000. The estimated inventory at June 30, 2019, would be:_______.
a. $68,200.
b. $55,000.
c. $71,500
d. $63,250.

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