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crosby company owns a chain of hardware stores. beginning inventory cost $160,000 Retail $280,000 ...

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Accounting

crosby company owns a chain of hardware stores.
beginning inventory cost $160,000 Retail $280,000
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Crosby Company owns a chain of hardware stores throughout the state. The company uses a periodic inventory system and the retail nventory method to estimate ending inventory and cost of goods sold. The following data are available for the three months ending March 31, 2021: Required: Complete the toble below to estimate the LFO cost of ending inventory and cost of goods sold for the three moriths ending March 31 . 2021 , using the information provided. Assume stable retall prices during the period. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.) 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 duting the period. (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.). Enter amounts to be deducted with a minus sign.)

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