Question: calculation to 2 decimal places (.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Cost Retail Cost-to-Retall Ratio

 calculation to 2 decimal places (.e., 0.1234 should be entered as
12.34%). Enter amounts to be deducted with a minus sign.) Cost Retail

calculation to 2 decimal places (.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Cost Retail Cost-to-Retall Ratio 364,000 250,000 $ Beginning inventory Net purchases Net markups Net markdowns Goods available for sale (excluding beg. inventory) Goods available for sale (including beg. inventory) 0 0 250,000 364,000 Cost-to-retail percentage (beginning) Cost-to-retail percentage (current) $ 364,000 Net sales Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 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: Cont Retail Beginning inventory $364,000 Net purchases Net markups 305,000 $250,000 663,000 830,000 29.000 9.000 Net markdown Net sales 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. Assume stable retail prices during the period. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.)

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