Bosco Company adopted the dollar-value LIFO retall method at the beginning of 2024. Information for 2024 and 2025 is as follows. with certain data Intentionally omitted: Required: Determine the missing data. Note: Round "Cost-to-Retall Percentage" to the nearest whole percent (Le., 0.1234 should be entered as 12.34%). Date Inventory, 1/1/2024 Inventory, 12/31/2024 2025 net purchases 2025 net sales Inventory, 12/31/2025 $ Cost Inventory 21,000 $ 22.792 80,000 Retail 28.000 33,600 88.400 80.000 Retail Price Index 1.00 1.12 1.20 Cost-to-Retail Percentage %
Bosco Company adopted the dollar-value LIFO retall method at the beginning of 2024. Information for 2024 and 2025 is as follows. with certain data Intentionally omitted: Required: Determine the missing data. Note: Round "Cost-to-Retall Percentage" to the nearest whole percent (Le., 0.1234 should be entered as 12.34%). Date Inventory, 1/1/2024 Inventory, 12/31/2024 2025 net purchases 2025 net sales Inventory, 12/31/2025 $ Cost Inventory 21,000 $ 22.792 80,000 Retail 28.000 33,600 88.400 80.000 Retail Price Index 1.00 1.12 1.20 Cost-to-Retail Percentage %
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Bosco Company adopted the dollar-value LIFO retall method at the beginning of 2024. Information for 2024 and 2025 is as follows,
with certain data Intentionally omitted:
Required:
Determine the missing data.
Note: Round "Cost-to-Retall Percentage" to the nearest whole percent (Le.. 0.1234 should be entered as 12.34%).
Date
Inventory, 1/1/2024
Inventory, 12/31/2024
2025 net purchases
2025 net sales
Inventory, 12/31/2025
$
Cost
Inventory
21,000 S
22,792
80,000
Retail
28,000
33,000
88.400
80,000
Retail Price
Index
1.00
1.12
1.20
Cost-to-Retail
Percentage
%
%
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