Oriole Sales Company uses the retail inventory method to value its merchandise inventory. The following...
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Oriole Sales Company uses the retail inventory method to value its merchandise inventory. The following information is available for the current year: Cost Retail Beginning inventory $ 21000 $36000 Purchases 100000 170000 Freight-in 1600 Net markups 7600 5500 Net markdowns 1000 Employee discounts 115000 Sales revenue If the ending inventory is to be valued at the lower-of-cost-or-market, what is the cost-to-retail ratio? $122600 + $ 213600 $122600 - $206000 1926005208100 If the ending inventory is to be valued at th $122600 - $213600 O $122600 = $206000 O $122600 - $208100 O $121000 = $211500
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