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Help, Please show all work. Thank you! On January 1, 2016, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both

Help, Please show all work. Thank you!

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On January 1, 2016, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2016 and 2017 are as follows: 2017 2016 Retail Retail Cost Cost 48,000 64,000 Beginning inventory 103,040 120,000 $115,150 $133,000 Net purchases Freight-in 3,200 3,700 16,000 Net markups 10,400 3,200 3,400 Net markdowns 119,440 117,850 Net sales to customers 5,920 Sales to employees (net of 20% discount) 3,800 Price Index: January 1, 2016 1.00 December 31, 2016 1.06 December 31, 2017 1.12 Required: Estimate the 2016 and 2017 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. (Round your cost-to-retail percentage calculations to 2 decimal places.) 2016 2017 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold

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