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Please type out answer and show how you got the answer in steps. Exercise 9-22 Dollar-value LIFO retail; solving for unknowns [LO9-5] Bosco Company adopted
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Exercise 9-22 Dollar-value LIFO retail; solving for unknowns [LO9-5] Bosco Company adopted the dollar-value LIFO retail method at the beginning of 2018. Information for 2018 and 2019 is as follows, with certain data intentionally omitted: Required: Determine the missing data. (Round "Cost-to-Retail Percentage" to the nearest whole percent (i.e., 0.1234 should be entered as 12%).) Answer is not complete. Inventory Cost 21,000 22,804 60,570 Retail Price Index 1.00 1.10 $ Cost-to- Retail Percentage 70% 82% Date Inventory, 1/1/2018 Inventory, 12/31/2018 2019 net purchases 2019 net sales Inventory, 12/31/2019 Retail 30,000 35,200 90,000 80.800 1.20Step by Step Solution
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