Lance Hefner Specialty Shoppes decided to use the dollar value its inventory. According records provide the following information:

Determine ending inventory and cost of goods sold.

12/31/12 000 28,600 equired: What is the cost-to-retail percentage for the inventory on hand at 1/1/11? Merchandise inventory, January 1, 2011 Net purchases Net markups Net markdowns Net sales inent retail price indexes are as follows: January 1, 2011 December 31, 2011 1.25 1.30 Calculate the inventory value at the end of 2011 and 2012 using the dollar-value LIFO retail methom ce-Hefner Specialty Shoppes decided to use the dollar-value LIFO retail method to value its invers counting records provide the following information: uired: ermine ending inventory and cost of goods sold. o Company adopted the dollar-value LIFO retail method 2 is a full Percentage 82% 85 Cost $160,000 350,200 Retail $250,000 510,000 7,000 2,000 380,000 1.00 1.10