What amount would kramer company report its ending inventory, Accounting Basics

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What amount would kramer company report its ending inventory

Kramer Company values its inventory by using the retail method (LIFO basis, stable prices). The following information is available for the year 2012.

Cost Retail

Beginning inventory $ 78,000 $140,000

Purchases 368,000 628,000

Freight-in 16,000

Markups (net) - 18,000

Markdowns (net) - 6,000

Sales 610,000

At what amount would Kramer Company report its ending inventory?

a. $95,700.

b. $96,000.

c. $100,300.

d. $102,000.

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Accounting Basics: What amount would kramer company report its ending inventory

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Accounting Basics: What amount would kramer company report its ending inventory

Reference No:- TGS0679114

Recent Questions Asked Accounting Basics

Q : Why the effective interest method is used for amortizing

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