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3 Green Acres Company has elected to use the dollar-value LIFO retail method to value its inventory. The following data has been accumulated from
3 Green Acres Company has elected to use the dollar-value LIFO retail method to value its inventory. The following data has been accumulated from the accounting records: 20 20 points 01:31:56 eBook Merchandise inventory, January 1, 2024 Net purchases Net markups Net markdowns Net sales Pertinent retail price indexes: Cost $ 215,220 435,125 Retail $ 340,000 730,000 9,800 2,300 507,700 January 1, 2024 December 31, 2024 1.00 1.10 References Required: Estimate the cost of ending inventory for December 31, 2024. Note: Round "Cost-to-retail percentage" to 2 decimal places. Estimated ending inventory
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