Kramer company values its inventory by using the retail

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Reference no: EM13574272

Kramer Company values its inventory by using the retail method (LIFO basis, stable prices). The following information is available for the year 2012.

Cost Retail

Beginning inventory $ 78,000 $140,000

Purchases 368,000 628,000

Freight-in 16,000

Markups (net) - 18,000

Markdowns (net) - 6,000

Sales 610,000

At what amount would Kramer Company report its ending inventory?

a. $95,700.

b. $96,000.

c. $100,300.

d. $102,000.

Reference no: EM13574272

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