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What the current period cost to retail percentage

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Question - Data below for the year ended 12-31-15, relates to Bamboo Inc, Bamboo started business 1-1-15, and uses the LIFO retail method to estimate ending inventory.

Beg Inventory $66000 (cost), $104,000 (retail)

Net purchases 270000 (cost), 420000 (retail)

Net markups 20000 (retail)

Net markdowns 40000 (retail)

Net sales 375000 (retail)

Required -

1. What the current period cost to retail percentage?

2. What the estimated ending inventory at retail?

Reference no: EM133056530

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