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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

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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 ending Inventory and cost of goods sold. The following data are available for the three months ending March 31, 2021 Cost $270, eee 672, eee Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $366,000 939, eee 24, eee 3, eee 920, een 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 ratlo calculation to 2 decimal places (I.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost $ $ 270,000 672.000 0 Beginning inventory Net purchases Net markups Net markdowns Goods available for sale (excluding beg. inventory) Goods available for sale (including beg. inventory) Cost-to-Retail Retail Ratio 366,000 939,000 24,000 (3,000) 960,000 1,326,000 0 672,000 942,000 % Cost-to-retail percentage (beginning) Cost-to-retail percentage (current) $ 1,326,000 Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold

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