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The following data concerning the retail inventory method are taken from the financial records of...

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Accounting

The following data concerning the retail inventory method are taken from the financial records of Stone Company.
Cost Retail
Beginning inventory $ 119,000 $170,000
Purchases 448,000640,000
Freight-in 12,000
Net markups 40,000
Net markdowns 28,000
Sales 672,000
13. The ending inventory at retail should be
A. $178,000.
B. $138,000.
C. $150,000.
D. $105,000.
14. If the ending inventory is to be valued at approximately the lower of cost or market, the calculation of the cost to retail ratio should be based on goods available for sale at (1) cost and (2) retail, respectively of
A. $567,000 and $810,000.
B. $579,000 and $822,000.
C. $579,000 and $810,000.
D. $579,000 and $850,000.

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