Test 3 Foider-ACCT 21 x ) M Ch. 9 Homework e conect Int Ch. 9 Homework Questio 3. 10.00 points Crosby Company owns a chain of hardware stores throughout the state The company uses a periodic wentory system and the retail inventory method to estimate ending inventory and cost of goods sold The tollowing data are available for the three months ending March 31, 2016 Cost Retail Net purchases Net markups Net markdowns Net sales Beginning inventory $270,000 $366,000 672,000 939.000 24,000 3,000 920,000 Required Complete the table below to estimate the LIFO cost of ending invertory and cost of goods sold for the s ending March 31, 2016. Assume stable retail prices during the penod Cost Beginning eventory Plus. Net purchases Net markups Less Neut markdoTIS Goods avalabile for sale (excludng beg g bog inventory Estmated ending inentory at retal Estimated endeng inventory at cost Estiemated cost of goods sold TOSHIBA esc 2 4 5