1.5 points Murdock Industries uses a periodic inventory system and the LIFO retail method to estimate its ending inventories. The following data has been summarized for December 31, 2013: Cost Retail Inventory, January 1 $115,500 $165,000 Purchases 354,770 540,000 Net markups 15,600 Net markdowns 9,800 Net sales 522.000 When calculating the cost-to-retail percentages, round it to the nearest whole percent. The Ending Inventory (at cost) as of December 31, 2013 would be: $130,970 $345,895 $188,800 $339,300 15 1.5 points When selling property, plant, and equipment for cash: Type here to search