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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 records
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 Cost Retail $368,790 570,000 688,568 1,027,000 14,700 4,700 688,500 Merchandise inventory, January 1, 2018 Net purchases Net markups Net markdowns Net sales Pertinent retail price indexe January 1, 2018 December 31, 2018 1.00 1.10 Required Estimate the ending inventory for December 31, 2018. (Round "Cost-to-retail percentage" to two decimal place.) Estimated ending inventory (At Retail) Estimated ending inventory (At Cost)
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