Debra's Card Shop uses the average cost retail inventory method to determine the ending inventory. Debra's accounting records for 2010 contained the following information:
In addition, sales returns for 2010 were $28,000, and employee discounts taken were $6,000. What is the cost of the ending inventory at December 31, 2010?
In addition, sales returns for 2010 were $28,000, and employee discounts taken were $6,000. What is the cost of the ending inventory at December 31, 2010?
a) $21,000
b) $35,000
c) $50,400
d) $54,600