The Ruffier Department Store uses the retail inventory method. The following information is available at December 31, 2014:
Cost |
Retail |
|
Beginning inventory |
$37800 |
$60,000 |
Purchases |
200000 |
290000 |
Freight-in |
7200 |
|
Net sales |
275000 |
What is the estimated cost of the ending inventory?
- $47,250.
- $52,500.
- $53,586.
- $192,500.