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question cokin inc began operations in 2013 and uses the lifo retail method to estim 4286392

Question

Cokin Inc began operations in 2013 and uses the LIFO retail method to estimate inventory data for the first six months of 2014 include: Beginning inventory at cost and retail were $60,000and $120,000 and net purchases at cost and retail were $312,000 and $520,000. Net Sales to customers were $470,0000 and sales to employees (net of 10% discount) were $18,000 during the first six months of 2014. The estimated inventory at June 30, 2014, would be:

a) $78,000

b) $79,200

c) $87,186

d) $91,200

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