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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 not complete. Inventory Retail Cost Retail Price Index Cost-to- Retail Percentage 78% s $ 40,000 1.00 31,200 35.790 65,000 48,600 1.08 Date Inventory, 1/1/2021 Inventory. 12/31/2021 2022 net purchases 2022 net sales Inventory, 12/31/2022 85 % 100,000 92,200 56,400 1.20
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