Exercise 9-28 Headland Corporation began operations on January 1, 2020, with a beginning inventory of $26,684 at cost and $50,500 at retail. The following information relates to 2020. Net purchases ($106,500 at cost) Net markups Net markdowns Sales revenue Retail $147,700 9,900 5,000 128,900 Assume Headland decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the conventional retail methods LINK TO TEXT Assume instead that Headland decides to adopt the dollar-value LIFO retail method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the dollar-value LIFO retail method LINK TO TEXT On the basis of the information in part (b), compute cost of goods sold. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to O decimal places, e.g. 28,987.) Cost of goods sold using the dollar-value LIFO retail method Click if you would like to Show Work for this question: Open Show Work Exercise 9-28 Headland Corporation began operations on January 1, 2020, with a beginning inventory of $26,684 at cost and $50,500 at retail. The following information relates to 2020. Net purchases ($106,500 at cost) Net markups Net markdowns Sales revenue Retail $147,700 9,900 5,000 128,900 Assume Headland decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the conventional retail methods LINK TO TEXT Assume instead that Headland decides to adopt the dollar-value LIFO retail method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the dollar-value LIFO retail method LINK TO TEXT On the basis of the information in part (b), compute cost of goods sold. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to O decimal places, e.g. 28,987.) Cost of goods sold using the dollar-value LIFO retail method Click if you would like to Show Work for this question: Open Show Work
