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Data below for the year ended December 31,2024, relates to Houdini Incorporated. Houdini started business...

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Accounting

Data below for the year ended December 31,2024, relates to Houdini Incorporated. Houdini started business January 1,2024, and uses the LIFO retail method to estimate ending inventory.
Cost Retail
Beginning inventory $ 92,000 $ 120,000
Net purchases 424,210610,000
Net markups 39,000
Net markdowns 59,000
Net sales 546,000
Current period cost-to-retail percentage is:

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