Which one of the following statements is false concerning the retail inventory method?
A) In arriving at a cost-to-retail ratio, sales discounts are deducted from goods available for sale to determine ending inventory at retail.
B) Employee discounts are subtracted from goods available for sale to compute ending inventory at retail.
C) Abnormal inventory spoilage would be subtracted at both cost and retail in the determination of goods available for sale.
D) Purchase returns and allowances must be subtracted from both the cost and retail value of the purchases.
A
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