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I can't fill out the estimated ending inventory at cost. Help me {The foBovng information applies to the questions displayed below) Ra'eigh Department Store uses
I can't fill out the estimated ending inventory at cost. Help me
{The foBovng information applies to the questions displayed below) Ra'eigh Department Store uses the conventional retail method for the year ended December 31. 2019. Available information follows: a. The inventory at January I. 2019. had a retail value of $37,000 and a cost of $30.090 based on the conventional retail method. b. Transactions during 2019 were as follows: die Sales to emplcyees are recorded net of dlscounts_ c. T fle retal va'ue of the December 31. 2020. inventory was $68,830. the cost-Tretail percentage for 2020 under the LIFO retail method was 70%. and tine appropriate price index was 102% of the January I. 2020, price level. d. T fle retal va'ue of the December 31. 2021. inventory was $40,950. cost-to-retal percentage for 2021 underthe LIFO retail method was 69%. and the appropriate price index was IOS?' of the January I. 2020. price Level. Regulred: I. Estimate ending inventory for 2019 using the conventional retail method. (Amounts to be deducted should be Indlceted wlth mlnus sln.) Anmer but Net for Estimsted erZing retail e ot Retail S"in it-in retun Q" : disw._l Net m E rkups rets i ' Net SEI" Estimsted erZing 20,oec 177.03 2@50 246,520 345m 27,occ 410,00 zoo 17.00 402,000 zoo 520,000
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