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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
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%).) Answer is complete but not entirely correct. Inventory Retail Cost-to- Retail Date Inventory, 1/1/2021 Cost Retail Price Index Percentage $ 21,300 30,000 1.00 71 % Inventory, 12/31/2021 26,466 37,800 1.05 82 % 2022 net purchases 60,950 92,000 2022 net sales 69,800 Inventory, 12/31/2022 31,632 60,000 1.50
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