Problem related to estimated inventory

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Hawkeye Auto Parts uses the retail method to estimate inventories. Data for the first six months of 2011 include: beginning inventory at cost and retail were $55,000 and $100,000, net purchases at cost and retail were $785,000 and $1,300,000, and sales during the first six months totaled $800,000. The estimated inventory at June 30, 2011, would be:

a. $330,000.

b. $360,000.

c. $362,300.

d. None of the above is correct.

Reference no: EM13147655

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