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Smith - Kline Company maintains inventory records at selling prices as well as at cost . For 2 0 2 4 , the records indicate
SmithKline Company maintains inventory records at selling prices as well as at cost For the records indicate the following data: $ in s Cost Retail Beginning inventory $ $ Purchases Freightin on purchases Purchase returns Net markups Net markdowns Net sales Required: Assuming the price level increased from at January to at December use the dollarvalue LIFO retail method to approximate cost of ending inventory and cost of goods sold. Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. Enter your answers in thousands.
SmithKline Company maintains inventory records at selling prices as well as at cost For the records indicate the following data:
$ in s
Cost Retail
Beginning inventory $ $
Purchases
Freightin on purchases
Purchase returns
Net markups
Net markdowns
Net sales
Required:
Assuming the price level increased from at January to at December use the dollarvalue LIFO retail method to approximate cost of ending inventory and cost of goods sold.
Note: Do not round intermediate calculations. Round final answers to the nearest whole dollar. Enter your answers in thousands.
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