Question: Data below for the year ended December 31, 2021, relates to Houdini Inc Houdini started business January 1, 2021, and uses the UFO retal method

Data below for the year ended December 31, 2021, relates to Houdini Inc Houdini started business January 1, 2021, and uses the UFO retal method to estimate enong invertory Cost $ 66,000 280,000 Beginning inventory Net purchases Net markups Net markdowns Net sales Retail $104,000 420,000 20,000 40,000 375,000 Estimated ending inventory at retail is Multiple Choice $65.000 $169,600 $25.000 $129.000

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