On the basis of the following data, what is the estimated cost of the inventory on May 31 using the retail method?     Cost   Retail May 1 Inventory $24,590   $40,980 May 1-31 Purchases 36,400   71,390 May 1-31 Sales     90,100 Do not round intermediate calculations. Round your final answer to the nearest whole dollar. a.$29,110 b.$11,540 c.$23,627 d.$12,087

Q: Date Purchases Sales   Units Cost/Unit Units Jan. 1 100 $0.80    Jan. 4 390 0.90   Jan. 5     280…

A: The inventory can be evaluated using various methods as: FIFO, LIFO and Weighted Average method.

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A: Answer:   Option d

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Q: need answer

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A: Option d : $11,572 is the answer.

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A: Working Note:-

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