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Kramer Company values its inventory by using the retail method (LIFO basis, stable prices). The following information is available for the year 2012. Cost Retail

Kramer Company values its inventory by using the retail method (LIFO basis, stable prices). The following information is available for the year 2012.

Cost Retail

Beginning inventory $ 78,000 $140,000

Purchases 368,000 628,000

Freight-in 16,000

Markups (net)

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