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Littleton Company uses a periodic inventory system and the LIFO retail method to estimate its ending inventories. The following partial data has been summarized for
Littleton Company uses a periodic inventory system and the LIFO retail method to estimate its ending inventories. The following partial data has been summarized for December 31, 2021: Cost $216,000 Inventory, January 1 Purchases Net markups Net markdowns Net sales Inventory, Dec. 31 Retail $285,000 650,000 18,300 21,200 625,000 $ 232,730 Required: Determine the cost-to-retail percentage used by Littleton. Assume stable retail prices during the period. (Enter your answer as a percentage rounded to 1 decimal place (i.e., 0.123 should be entered as 12.3)) Cost-to-retail percentage %
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