Please explain with as much detail as possible. I asked twice and have continuously received...
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Accounting
Please explain with as much detail as possible. I asked twice and have continuously received wrong answers to this question.
Kiddie World uses a periodic inventory system and the retail inventory method to estimate ending inventory and cost of goods sold The following data are available for the quarter ending September 30, 2018: Cost Retail Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales $390,900 $ 525,000 900,000 1,300,00e 27,050 57,000 27,000 1,245,000 Estimate ending inventory and cost of goods sold (LIFO). (Round ratio calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34%.))
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