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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 Beginning inventory Net purchases Net markup Net markdowns Net sales Coat Retail $250,000 $364,000 663,000 230,000 29,000 9.000 805,000 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 (i.e.. 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost 250,000 $ Retail 364.000 Cost-to-Retail Ratio $ Beginning inventory Not purchases Net markups Net markdowns Goods available for sale (excluding beginventory) 0 5 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Retail Cost 250,000 $ Cost-to-Retail Ratio $ 364.000 Ints Skipped Beginning inventory Net purchases Net markups Net markdowns Goods available for sale (excluding beg, Inventory) Goods available for sale (including beg, inventory) -BOOM 0 250,000 0 364,000 Cost-to-retail percentage (beginning) Cost-to-retail percentage (current) References Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold $ 364.000

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