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Data below for the year ended December 31, 2024, relates to Houdini Incorporated Houdini started business January 1, 2024, and uses the LIFO retail method

Data below for the year ended December 31, 2024, relates to Houdini Incorporated Houdini started business January 1, 2024, and uses the LIFO retail method to estimate ending inventory. Cost Retail Beginning inventory $ 76,000 $ 114,000 Net purchases 355,000 520,000 Net markups 30,000 Net markdowns 50,000 Net sales 465,000 Estimated ending inventory at cost is

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