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

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A:

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