Use four decimal places. Chocolate Heaven had the following data for November:
Cost Price Retail Price
Beginning inventory $8,000 $13,000
Purchases 18,000 25,000
Sales 30,000
The cost of the estimated inventory on November 30 under the retail method is:
A) $5,440.
B) $2,560.
C) $8,160.
D) $3,840.
Answer: A
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