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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: 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 Retail Price Index Cost-to- Retail Percentage 76 $ $ 1.00 % Date Inventory, 1/1/2021 Inventory, 12/31/2021 2022 net purchases 2022 net sales 22,800 32,000 1.15 80 % 30,000 46,000 98,000 85,500 67,620 Inventory, 12/31/2022 122,420 X 259 500 1.30
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