Estimated ending inventory cost

Estimate ending inventory using the dollar-value LIFO retail method. Note: Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.) Cost Retail Cost-to-retail Ratio Beginning inventory $ 42,350 $ 77,000 Plus: Net purchases 165,890 315,000 Net markups 9,000 Less: Net markdowns (11,000 Goods available for sale (excluding beginning inventory) 165,890 313,000 Goods available for sale (including beginning inventory) 208,240 390,000 Base layer cost-to-retail percentage 2024 layer cost-to-retail percentage Less: Net sales (292,000) Estimated ending inventory at current year retail prices 98,000 Estimated ending inventory at cost Estimated cost of goods sold W Q Search