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Feedback will be given! Required information Problem 913 (Algo) Retail inventory method; various applications [LO3,94,95] [The following information applies to the questions displayed below ]
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Required information Problem 913 (Algo) Retail inventory method; various applications [LO3,94,95] [The following information applies to the questions displayed below ] On January 1, 2024. Pet Friendly Stores adopted the retail inventory method Inventory transactions at both cost and retal, and cost indexes for 2024 and 2025 are as follows: Problem 9-13 (Algo) Part 1: Required: 1. Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-valie Lle oretailimethod Note: Round your cost-to-retail percentage calculation to 2 decimal places (i.e., 0.1234 should be 12.34\%) and final answers to the neorest whole dollar. Required: 2. Estimate the 2024 ending inventory and cost of goods sold using the average cost retail method. Note: Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollarStep by Step Solution
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