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I need help with estimated ending inventory at cost and estimated cost of goods sold Crosby Company owns a chain of hardware stores throughout the
I need help with estimated ending inventory at cost and estimated cost of goods sold
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 Retail $170,000 $281,000 602,000 840,000 26,000 6,000 815,000 Cost Beginning inventory Net purchases Net markups Net markdowns Net sales 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 periodStep by Step Solution
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