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 01 Inventory $24,440 $40,740 May 01-31 Purchases (net) $42,030 $60,030 May 01-31 Sales (net) $92,390 Do not round intermediate calculations. Round your final answer to the nearest whole dollar. Select the correct answer. $25,920 $18,400 $23,928 $5,528
The controller of Hall Industries has collected the following monthly expense data for use in analyzing the cost behavior of maintenance costs. Month Total Total Machine Hours Maintenance Costs January $ 3,041 4,032February 3,456 4,608March 4,147 6,912April 5,184 9,101May 3,686 5,760June 5,322 9,216Determine the variable-cost components using the high-low method. (Round variable cost to 2 decimal places e. g. 12.25.)