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Data below for the year ended December 31, 2021, relates to Houdini Inc. Houdini started business January 1, 2021, and uses the LIFO retail

Data below for the year ended December 31, 2021, relates to Houdini Inc. Houdini started business January 1, 2021, and uses the LIFO retail method to estimate ending inventory. Beginning inventory Cost Retail $ 80,000 $117,000 Net purchases Net markups Net markdowns Net sales Estimated ending inventory at retail is: Multiple Choice $204,910. $91,000. $38,000. $155,000. 377,890 550,000 33,000 53,000 492,000

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