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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 for the three months ending March 31, 2021:

Cost Retail
Beginning inventory $ 310,000 $ 381,000
Net purchases 750,000 986,000
Net markups 21,000
Net markdowns 7,000
Net sales 946,000

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.

Cost Retail Cost-to-Retail Ratio
Beginning inventory $310,000 $381,000
Plus: Net purchases 750,000 986,000
Net markups 0 21,000
Less: Net markdowns 0 7,000
Goods available for sale (excluding beg. inventory) 750,000 1,000,000
Goods available for sale (including beg. inventory) 1,060,000 1,381,000
Cost-to-retail percentage 75 %
Less: Net sales 0 946,000
Estimated ending inventory at retail $435,000
Estimated ending inventory at cost x
Estimated cost of goods sold x

*The x's I placed in the boxes are the answers I need

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