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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.
Inventory Inventory Retail Price Index Cost-to-Retail Percentage 76 86 $ $ 1.00 Cost 22,800 24,606 65,760 1.05 Date Inventory, 1/1/2021 Inventory, 12/31/2021 2022 net purchases 2022 net sales Inventory, 12/31/2022 % Retail 30,000 33,600 96,000 83,400 46,200 83,400 1.10 Inventory Inventory Retail Price Index Cost-to-Retail Percentage 76 86 $ $ 1.00 Cost 22,800 24,606 65,760 1.05 Date Inventory, 1/1/2021 Inventory, 12/31/2021 2022 net purchases 2022 net sales Inventory, 12/31/2022 % Retail 30,000 33,600 96,000 83,400 46,200 83,400 1.10Step by Step Solution
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