Question
Data below for the year ended December 31, 2018, relates toHoudini Inc. Houdini started business January 1, 2018, and uses theLIFO retail method to estimate
Data below for the year ended December 31, 2018, relates toHoudini Inc. Houdini started business January 1, 2018, and uses theLIFO retail method to estimate ending inventory. Cost RetailBeginning inventory $ 70,000 $ 107,000 Net purchases 302,290450,000 Net markups 23,000 Net markdowns 43,000 Net sales 402,000Estimated ending inventory at retail is:
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Accounting Information System
Authors: James A. Hall
7th Edition
978-1439078570, 1439078572
