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Hoosier Corporation uses the LIFO retail method to value its inventory. The following information is available for the year 2018: Cost Retail Merchandise inventory, January

Hoosier Corporation uses the LIFO retail method to value its inventory. The following information is available for the year 2018:

Cost Retail

Merchandise inventory, January 1, 2018 180,000 250,000

Purchases 550,000 910,000

Net Markups - 20,000

Net Markdowns - 4,000

Net Sales - 800,000

Estimate the December 31, 2018, ending inventory at cost. Please round your calculation of the cost-to-retail percentages to the third place (for example, 0.XXX).

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