Crosby Company owns a chain of hardware stores throughout the state. The company 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 three months ending March 31, 2021: Cost Retail
Beginning inventory $160,000 $280,000
Net purchases 607,760 840,000
Net markups 20,000
Net markdowns 4,000
Net sales 800,000

Required:
Estimate the LIFO cost of ending inventory and cost of goods sold for the three months ending March 31, 2013. Assume stable retail prices during the period.

while setting up his new office, an attorney ordered thick, frieze carpets for the floor. however, the building inspector had him remove the expensive carpeting. the building inspector stated that according to federal regulations, the office must be wheelchair accessible as it is a public area. he further explained that since wheelchairs do not maneuver well in thick, frieze carpeting, the carpets had to be removed and be replaced with smooth-textured carpets that do not restrict wheelchair maneuverability. this scenario illustrates how a company is influenced by the component of its specific environment.

During which of the following phases of the business cycle does the real gdp fall? a. trough b. expansion c. contraction d. peak

Which of the following situations is most likely to change a buyer's market into a seller's market? a. a natural disaster that drives away a lot of the population. b. the price of building materials suddenly going up. c. the government buys up a lot of houses to build a new freeway. d. a factory laying off a lot of workers in the area.