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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

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: Cost Retail Beginning inventory $ 300,000 $ 380,000 Net purchases 833,000 962,000 Net markups 24,000 Net markdowns 6,000 Net sales 924,000 Required: Complete the table below to estimate the LIFO cost of ending inventory and cost of goods sold using the information provided. Assume stable retail prices during the period. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign

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