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Charleston Company has elected to use the dollar-value LIFO retail method to value its inventory. The following data has been accumulated from the accounting
Charleston Company has elected to use the dollar-value LIFO retail method to value its inventory. The following data has been accumulated from the accounting records: Merchandise inventory, January 1, 2024 Cost $ 375,840 691,308 Retail $ 580,000 1,028,000 14,800 4,800 694,000 1.00 1.10 Net purchases Net markups Net markdowns Net sales Pertinent retail price indexes: January 1, 2024 December 31, 2024 Required: Estimate the ending inventory for December 31, 2024. Note: Round "Cost-to-retail percentage" to 2 decimal places. Estimated ending inventory (At Retail) Estimated ending inventory (At Cost)
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