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accounting question On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information: Cost Retail Beginning

accounting question

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On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information: Cost Retail Beginning inventory Net purchases 231, 848 378, 080 Not markups Net markdowns 18,089 Net sales 347,080 Retail price index, end of year 1. 84 During 2022, purchases at cost and retail were $293,580 and $489,300, respectively. Net markups, net markdowns, and net sales for the year were $7,000, $8.000, and $380,000, respectively. The retail price index at the end of 2022 was 106. Estimate ending inventory in 2022 using the dollar-value LIFO retail method. (Round your Intermediate calculations to the nearest whole dollar. Round ratio calculation to the nearest whole percent.) * Answer is complete but not entirely correct. Ending inventory $ 3,510,000 x

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