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Joous Solu. The following udld are available for the three months ending March 31, 2021 Cost $310,000 750,000 Beginning inventory Net purchases Net markups Net

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Joous Solu. The following udld are available for the three months ending March 31, 2021 Cost $310,000 750,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $381,000 986,000 21,000 7,000 946,000 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, 2021, using the information provided. Assume stable retail prices during the period. Cost Retail Cost-to-Retail Ratio Beginning inventory Plus: Net purchases Net markups Less: Net markdowns Goods available for sale (excluding beg. inventory) Goods available for sale (including beg. inventory) Cost-to-retail percentage Less: Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold

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