Leslie, Ltd. used the LIFO retail inventory method to determine its ending inventory . The accounting records

Question:

Leslie, Ltd. used the LIFO retail inventory method to determine its . The accounting records for the company contained the following relevant information:

Cost Retail Net purchases $79,000 S48,000 Sales 91,000 Beginning inventory 12,000 25,000 5,000 Net markups Net markdowns

What is the LIFO cost of the ending inventory?

Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...