Calculate the estimated ending inventory and cost of goods sold for 2021 using the information...
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Accounting
Calculate the estimated ending inventory and cost of goods sold for 2021 using the information provided.
Exercise 9-19 (Algo) Dollar-value LIFO retail (LO9-5] On January 1, 2021, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2021: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, 12/31/2021 Cost Retail $ 78,660 $ 138,000 102,800 261,000 8,000 12,000 224,000 1.20
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