December 31, 2024, relates to Houdini Incorporated Houdini started business January 1, 2024, and uses the LIFO retail method to estimate ending inventory. Cost Retail Beginning inventory $ 66, 000 $ 104, 000 Net purchases 280,000 420,000 Net markups 20,000 Net markdowns 40,000 Net sales 375,000 Estimated ending inventory at retail is: Multiple Choice $169,600. $65,000. $129,000. $25,000.
