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Carter, Inc. uses the LIFO retail inventory method for costing inventory. It has beginning inventory at a cost of $60,140 and retail value of $97,000.

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Carter, Inc. uses the LIFO retail inventory method for costing inventory. It has beginning inventory at a cost of $60,140 and retail value of $97,000. During the year, Carter purchased goods with a cost basis of $148,390 and a retail value of $217,300. It had net markups of $6,900 and net markdowns of $15,200. Carter has net sales of $250,000. What is Carter's ending inventory using the LIFO retail method? (Round percentages to two decimal places.) Complete the partial table below to determine the retail value for the beginning inventory layer and the current-year layer cost-to-retail ratio. In the following step, complete the table by selecting the labels and entering the amounts needed to determine Carter's ending inventory at retail. (If a box is not used in the table, enter a zero; do not leave the box empty. Round all percentages to two decimal places. X.XX%. Round all currency amounts to the nearest whole dollar.) Cost Retail Cost-to-Retail Ratio Current year layer Ending inventory at retail Carter's ending inventory at cost using LIFO retail is $ Choose from any list or enter any number in the input fields and then continue to the next

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