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Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2021. Information for 2021 and 2022 is as follows, with certain data intentionally
Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2021. Information for 2021 and 2022 is as follows, with certain data intentionally omitted:
Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2021. Information for 2021 and 2022 is as follows, with certain data intentionally omitted: Required: Determine the missing data. (Round "Cost-to-Retail Percentage" to the nearest whole percent (i.e., 0.1234 should be entered as 12%).) Inventory Retail Retail Price Index 1.00 Cost-to-Retail Percentage 72 80 $ Cost 24,500 28,620 66,660 % % Date Inventory, 1/1/2021 Inventory, 12/31/2021 2022 net purchases 2022 net sales Inventory, 12/31/2022 1.03 35,000 41,200 101,000 84.600 1.20Step by Step Solution
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