Determine the missing data. Note: Round "Cost-to-Retail Percentage" to the nearest whole percent (i.e., 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 $ 22,804 60,570 Retail 30,000 35,200 90,000 80,800 Retail Price Index 1.00 1.10 1.20 Cost-to-Retail Percentage % %

FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
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Bosco Company adopted the dollar-value LIFO retail 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-Retail Percentage" to the nearest whole percent (i.e., 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 $
22,804
60,570
Retail
30,000
35,200
90,000
80,800
Retail Price
Index
1.00
1.10
1.20
Cost-to-Retail
Percentage
%
%
Transcribed Image Text:Bosco Company adopted the dollar-value LIFO retail 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-Retail Percentage" to the nearest whole percent (i.e., 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 $ 22,804 60,570 Retail 30,000 35,200 90,000 80,800 Retail Price Index 1.00 1.10 1.20 Cost-to-Retail Percentage % %
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