A company uses the average cost retail method to estimate inventories. Data for the first...
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A company uses the average cost retail method to estimate inventories. Data for the first six months of 2024 include: beginning inventory at cost and retall were $60,000 and $105,000, net purchases at cost and retail were $790,000 and $1,305,000, and sales during the first six months totaled $805,000. The estimated inventory at June 30,2024 , would be: Note: Round cost-to-retail ratio to the nearest whole percentage. Multiple Choice None of the other answer choices are correct. $363,000 $333,000 $365,300
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