Harvey's Junk Jewelry started business January 1, 2018, and uses the LIFO retail method to estimate ending inventory. Listed below is data accumulated for the year ended December 31, 2018:
- The numerator for the current period's cost-to-retail percentage is:
A) $64,800.
B) $48,100.
C) $47,700.
D) $49,800.
Correct Answer:
Verified
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