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1. What is the estimate of ending inventory using dollar LIFO Retail method? 2. What is the year and adjusting entry? Beginning inventory at retail

1. What is the estimate of ending inventory using dollar LIFO Retail method? image text in transcribed
2. What is the year and adjusting entry?
image text in transcribed
Beginning inventory at retail (base year) Ending inventory at retail Beginning cost-to-retail percentage Current-year cost-to-retail percentage Retail price index for the year $120,000 $168,000 40% 45% 1.12 What is the estimate of ending inventory using the dollar-value LIFO retail method? Estimate of ending inventory Beginning inventory at retail (base year) Ending inventory at retail Beginning cost-to-retail percentage Current-year cost-to-retail percentage Retail price index for the year $120,000 $168,000 40% 45% 1.12 What is the estimate of ending inventory using the dollar-value LIFO retail method? Estimate of ending inventory

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