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Business, 06.12.2021 20:10 19thomasar

Harvey's Junk Jewelry started business January 1, 2021, and uses the LIFO retail method to estimate ending inventory. Listed below is data accumulated for the year ended December 31, 2021: Cost Retail
Beginning inventory $16,800 $24,800
Purchases 50,800 79,800
Freight-in 4,300
Purchase returns 3,500 4,400
Net markups 2,900
Net markdowns 5,900
Net sales 72,400
Employee discounts 2,500

The numerator for the current period's cost-to-retail percentage is:

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