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Cost Retail Beginning Inventory 40800 68000 Net Purchases 168000 301000 Net Markups 3000 Net Markdowns 4000 Net Sales 280000 Retail Price Index 1.06 Estimate ending

Cost Retail

Beginning Inventory 40800 68000

Net Purchases 168000 301000

Net Markups 3000

Net Markdowns 4000

Net Sales 280000

Retail Price Index 1.06

Estimate ending inventory using the dollar value LIFO retail method.

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