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

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. Cost $ 70,000 408, 690 3.34 points Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $126,000 590,000 37,000 57,000 528,000 (8 01:28:23 Current period cost-to-retail percentage is: 1 0 68.8% 0 71.7% 0 65.2% 0

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