Question: HELP PLEASE!!!! 6 Exercise 9-15 (Algo) Retail inventory method; LIFO [LO9-3) Crosby Company owns a chain of hardware stores throughout the state. The company uses

6 Exercise 9-15 (Algo) Retail inventory method; LIFO [LO9-3) 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 Skipped Deginning inventory Hot purchases Het markups Het markdowns Het sales Cost Retail $360,000 $ 460,000 840,000 1,040,000 17,000 7,000 1,023,000 ebook Hint 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 (l.e.. 0.1234 should be entered as 12.34%). Enter amounts to be deducted with a minus sign.) Print Cost Retail Cost-to-Retall Ratio 460,000 yforences $ 360,000 $ Beginning inventory Net purchases Net markups Not markdowns Goods available for sale (excluding bog. Inventory) Goods available for sale (including beg. Inventory) 0 460,000 360,000 Cost-to-retail percentage (beginning) Cost-o-retail percentage (current) % % 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 (ie. 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) Cost-to-Retail Ratio Cost 360,000 $ Retall 460,000 S Beginning inventory Net purchases Net markups Net markdowns Goods available for sale (excluding beg. Inventory) Goods available for sale (including beg. inventory) 0 350,000 0 400,000 Cost-to-retal percentage (beginning) Cost-to-retall percentage (current) % % $ 400,000 Net sales Estimated ending inventory of retail Estimated ending inventory at oost Estimated cost of goods sold
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