Estimate the cost of ending inventory for August for Roman's Jewelry Store using the retail method on the following data:

Cost Retail
Beginning inventory for August $180,000 $288,000
Purchases during August $70,000 $112,000
Net sales during August $80,000

(Points: 5)
$50,000
$156,250
$200,000
$128,000

8. At the beginning of each year, Bill Ross invests $1,400 semiannually at 8% for nine years. Using the

tables in the Business Math Handbook that accompanies the course textbook, determine the cash value of
the annuity due at the end of the ninth year. please help

To estimate the cost of ending inventory for August using the retail method, we need to follow these steps:

1. Calculate the Cost-to-Retail Ratio (C/R ratio):
- Divide the total cost of the beginning inventory for August by the total retail value of the beginning inventory for August:
C/R ratio = Cost of beginning inventory / Retail value of beginning inventory

2. Calculate the Cost of Net Purchases:
- Multiply the net purchases (cost) during August by the C/R ratio:
Cost of Net Purchases = Net Purchases (cost) * C/R ratio

3. Calculate the Estimated Cost of Ending Inventory:
- Subtract the cost of net purchases from the retail value of the beginning inventory and net sales during August:
Estimated Cost of Ending Inventory = Retail value of beginning inventory + Net Sales during August - Cost of Net Purchases

Now, let's calculate the estimates:

Given data:
- Beginning inventory for August
- Cost: $180,000
- Retail: $288,000
- Purchases during August
- Cost: $70,000
- Retail: $112,000
- Net Sales during August: $80,000

1. Calculate the C/R ratio:
- C/R ratio = Cost of beginning inventory / Retail value of beginning inventory
- C/R ratio = $180,000 / $288,000
- C/R ratio = 0.625

2. Calculate the Cost of Net Purchases:
- Cost of Net Purchases = Net Purchases (cost) * C/R ratio
- Cost of Net Purchases = $70,000 * 0.625
- Cost of Net Purchases = $43,750

3. Calculate the Estimated Cost of Ending Inventory:
- Estimated Cost of Ending Inventory = Retail value of beginning inventory + Net Sales during August - Cost of Net Purchases
- Estimated Cost of Ending Inventory = $288,000 + $112,000 - $43,750
- Estimated Cost of Ending Inventory = $356,250

Therefore, the estimate for the cost of ending inventory for August for Roman's Jewelry Store using the retail method is $356,250.

The closest answer choice is $156,250, but it does not match our calculated estimate.