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Check my work 2 Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic Inventory system and the retail
Check my work 2 Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic Inventory system and the retail Inventory method to estimate ending inventory and cost of goods sold. The following data are available for the three months ending March 31, 2021: 0.53 points lleginning inventory Ket purchases Ket markuos Net Daridans Yet sales Cost Retail $180,000 $282,000 630,000 065,000 13,000 3,00D 840,D Bank 00 Hint Required: Complete the table below to estimate the LIFO cost of ending inventory and cost of goods sold for the three months ending March 31. 2021, using the information provided. Assure stable retail prices during the period. (Round ratio calculation to 2 decimal places (i.., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Rules Cost Retail Cost-to-Retail Ratia $ 100,000 s 630,000 Beginning inventory Net purchases Net markus Net markans Goods available for sale (excluding beginventory! Goode available for sale including beg. Inventory) 262,000 265,000 13,000 (3.000) 630,000 810,000 275,000 1.157.000 % Cool-to-retail percentago (beginning) Cost-1c-retail percentage (current ( (840,000) 317,000 S Net sales Estimated encing Inventory at retail Estimated encing inventory al cost Estimated cost of goods sold
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