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Metlock Company began operations late in 2 0 2 4 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2
Metlock Company began operations late in and adopted the conventional retail inventory method. Because there was no
beginning inventory for and no markdowns during the ending inventory for was $ under both the
conventional retail method and the LIFO retail method. At the end of management wants to compare the results of applying the
conventional and LIFO retail methods. There was no change in the price level during The following data are available for
computations.
Compute the cost of the ending inventory under both:
a The conventional retail method.
Ending inventory using the conventional retail method $
b The LIFO retail method.
Ending inventory at cost $
Ending inventory at retail $
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