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Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic inventory system and the retall Inventory method to estimate

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Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic inventory system and the retall Inventory method to estimate ending inventory and cost of goods sold. The following data are available for the three months ending March 31, 2021 Cost $260,000 760.ee Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $365,000 934,000 18,000 2,000 912.000 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. Assume stable retail prices during the period. (Round ratio calculation to 2 decimal places (.e.. 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Beginning inventory Net purchases Net markups Not markdowns Goods available for sale (excluding beg. inventory) Goods available for sale (including beginventory) Cost-to-Retail Cost Retail Ratio 260,000 $ 365.000 760,000934.000 18,000 2,000 760,000 950,000 1,020,000 1.315.000 % Cost to retail percentage (beginning) Cost-to-retail percentage (current) 912,000 403,000 $ Nel sales Estimated ending inventory at retail Estimated ending inventory at cost

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