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Determine the ending inventory at its estimated cost

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Question - Garrison Company uses the retail method of inventory costing. It started the year with an inventory that had a retail cost of $43,461.00. During the year, Garrison purchased an inventory with a retail sales value of $759,299.00. After performing a physical inventory, Garrison found the inventory at retail to be $58,132.00. The markup is 100% of cost. Determine the ending inventory at its estimated cost.

a. $14,395.00

b. $29,066.00

c. $372,314.00

d. $58,132.00

Reference no: EM132860918

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