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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 method

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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 method to estimate ending inventory. Cost $ 66,000 280,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $104,000 420,000 20,000 40,000 375,000 Estimated ending inventory at retail is: Multiple Choice $65.000 $169,600 $25.000. $129.000 O

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