Exercise 9-15 Retail inventory method; LIFO [L09-3] 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, 2018: Beginning inventory Set purchases Set narkups Set narkdowns Set sales Retail $260,000 365,000 760,000 934,000 18,000 2,000 912,000 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, 2018. Assume stable retail prices during the period. Answer is complete but not entirely correct. Cost Retail Retall $ 260,000 -$ 365,000 Plus: Net purchases 760 Net markups 18,000C Less: Net markdowns Goods available for sale (excluding beg. Goods available for sale (including beg. 2,000 950,000 1,315,000 760,000 1,020,000 inven Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 912.000 $ 403 (289,550 $ 730,450