the toso company uses the retail inventory method. the following information is available for the year ended december 31, 2024: cost retail inventory 1/1/2024 $ 390,000 $ 650,000 net purchases for the year 1,402,000 1,835,000 net markups 75,000 net markdowns 45,000 net sales 1,845,000 assume that on 1/1/2024 toso adopted the dollar-value lifo retail inventory method and that the retail price index at the end of 2024 is 1.02. toso's inventory at december 31, 2024, is estimated at:
