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Requirement 2: ALQUIST COMPANY LIFO Retail Method Cost Retail Beginning inventory Plus: Purchases Freight-in Plus: Net markups Less: Net markdowns Goods available for sale (excluding

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Requirement 2: ALQUIST COMPANY LIFO Retail Method Cost Retail Beginning inventory Plus: Purchases Freight-in Plus: Net markups Less: Net markdowns Goods available for sale (excluding beg. inv.) Goods available for sale (including beg. inv.) Cost to retail percentage: Less: Normal shrinkage Sales: Sales to customers Sales to employees Employee discounts Estimated ending inventory at retail Estimated ending inventory at cost Retail Cost Beginning inventory Current period's layer Total Estimated cost of goods sold

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