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Return to question 9 Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic inventory system and the retail
Return to question 9 Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold. The following data are available for the three months ending March 31, 2021: 0.53 points lleginning inventory Ket purchase Ket markup Net Darkdowns | Net Galta Coat Retail $320,000 $382,000 302,000 995,000 23,000 3.000 961, COD Required: Complete the table below to estimate the LIFO cost of ending inventory and cost of goods sold for the three months ending March 31, 2021, using the information provided. Assure stable retail prices during the period. (Round ratio calculation to 2 decimal places (ie., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Answer is not complete. Cast Retail Cost-ta Retail Ratio S $ 320,000 707 000 Beginning inventory Nel purchases Netmarkus Nel markurs Goods available for sale (excluding beg. inventory! Goods available for sale including bag Inventory) 322.000 995.000 23.000 18,000) ) 1,010,000 1,392.000 707.000 1,027 000 Cost-1o-retel percentage (beginning) Cost-to-retel percentage (current) 62.00% 71.00 % $ 1,392.000 Net sales Estimated encing Inventory at retall Estimated encing inventory at cost Estimated cost of goods sold 123,878 357.909 S
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