Question: I need help finding the ENDING INVENTORY AT COST (under LIFO method). What is the exact value? Brief Exercise 9-12 x Your answer is incorrect.
I need help finding the ENDING INVENTORY AT COST (under LIFO method). What is the exact value?
Brief Exercise 9-12 x Your answer is incorrect. Try again. Monty Inc. had beginning inventory of $14,190 at cost and $21,500 at retail. Net purchases were $132,377 at cost and $172,900 at retail. Net markups were $10,400, net markdowns were $7,500, and sales revenue was $159,000. Compute ending inventory at cost using the LIFO retail method. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to o decimal places, e.g. 28,987.) Ending inventory using LIFO retail method 27,422 Click if you would like to Show Work for this question: Open Show Work
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