The following data relate to the merchandise inventory of the Hofma Company:
|
Beginning inventory at cost |
$13,800 |
|
Beginning inventory at selling price |
20,000 |
|
Purchases at cost |
31,000 |
|
Purchases at selling price |
50,000 |
The cost to retail percentage (ratio) to be used in calculating an estimate of ending inventory by use of the retail method is:
- 156%.
- 145%.
- 69%.
- 64%.