Question: Data below for the year ended December 31, 2018, relates to Houdini Inc. Houdini started business January 1, 2018, and uses the LIFO retail method

Data below for the year ended December 31, 2018, relates to Houdini Inc. Houdini started business January 1, 2018, and uses the LIFO retail method to estimate ending inventory. Beginning inventory Cost $ 66,0 00 280 000 Retail $ 104, 000 Net purchases 3D Net markups 420, 000 20,0 00 40,0 00 375, 000 Net markdowns Net sales Estimated ending inventory at cost is: $90,720 $91,600 $83,500 None of these answer choices are correct

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