Question:Gerber Departmental Store uses the retail inventory method. Their opening inventory had cost $140,000 and its retail price was fixed at $280,000. Purchases for the period amounted to $390,000 and were priced to sell at twice that amount. Sales for the period, all at the normal retail price, were $600,000. How much is the estimated cost of their closing inventory? 

A $115,000 
B $150,000 
C $230,000 
D $300,000 

+ Answer
C 

+ Explanation
answer not sure

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Md. Habib Ullah

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