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Charleston Company has elected to use the dollar-value LIFO retall method to value ts Inventory. The following data has been accumulated from the accounting records
Charleston Company has elected to use the dollar-value LIFO retall method to value ts Inventory. The following data has been accumulated from the accounting records Merchandise inventory. January 1. 2018 Net markups Net narkdowns Net sales $285,750 $ 450,000 656,0001015,000 13,500 3,500 622, 500 Rertinent retail price indexes:: January 1, 201 Decenber 31, 2018 1.00 1.10 Required: Estimate the ending inventory for December 31, 2018. (Round Cost-to-retall percentage" to two decimai place Estimated ending inventory (At Retail) Estimated ending inventory (At Cost)
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