I need help with finishing requirement #2 and I need help with Requirement #3

Raleigh Department Store uses the conventional retail method for the year ended December 31, 2016. Available information follows: a. The inventory at January 1, 2016, had a retail value of $52000 and a cost of $39.960 bas ed on the conventional retail methocd. b. Transactions during 2016 were as follows: Retail $568,80 17,800 Cost $356,160 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns 6,608 5,700 551,se8 8,e0e Employee discounts Freight-in Net markups Net markdowns 2,see 3,e00 32,ae0 17,ee Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2017, inventory was $71,070, the cost-to-retail percentage for 2017 under the LIFO retail method was 76 % , and the appropriste price index was 103 % of the January 1, 2017, price level. d. The retail value of the December 31, 2018, inventory was $52,470, the cost-to-retail percentage for 2018 under the LIFO retail method was 75 % , and the appropriste price index was 106 % of the January 1, 2017, price level. Required: 1. Estimate ending inventory for 2016 using the conventional retail method. 2 Estimate ending inventory for 2016 assuming Raleigh Department Store used the LIFO retail method 3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2017. Estimating ending inventory for 2017 and 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Estimate ending inventory for 2016 assuming Raleigh Departmentt Store used the LIFO retail method. Cost-to- Cost Retal Retall Ratio Beginning inventary 39,960 S 52,000 Add: Purchases 356,160 560.000 Add: Freight-in 30,000 Less: Purchase retums (6,600) (17.000) Less: Purchase discounts (5,700) Add: Net markups 32,000 Less: Net markdowns (17.000) Gpods available far sale (excluding beginning inventory) Goods available for sale (including beginning inventory) 379,560 558,000 419,520 610,000 Cost-to relail percentage (543,500) (2,500) Less: Net sales Less: Employee discounts Estimated ernding inventory at retail 64,000 Estimated ernding inventory at cost Required 1 Required S Raleigh Department Store uses the conventional retail method for the year ended December 31, 2016. Available information follows: a. The inventory at January 1, 2016, had a retail value of $52000 and a cost of $39.960 bas ed on the conventional retail methocd. b. Transactions during 2016 were as follows: Retail $568,80 17,800 Cost $356,160 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns 6,608 5,700 551,se8 8,e0e Employee discounts Freight-in Net markups Net markdowns 2,see 3,e00 32,ae0 17,ee Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2017, inventory was $71,070, the cost-to-retail percentage for 2017 under the LIFO retail method was 76 % , and the appropriste price index was 103 % of the January 1, 2017, price level. d. The retail value of the December 31, 2018, inventory was $52,470, the cost-to-retail percentage for 2018 under the LIFO retail method was 75 % , and the appropriste price index was 106 % of the January 1, 2017, price level. Required: 1. Estimate ending inventory for 2016 using the conventional retail method. 2 Estimate ending inventory for 2016 assuming Raleigh Department Store used the LIFO retail method 3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2017. Estimating ending inventory for 2017 and 2018 Answer is not complete. Complete this question by entering your answers in the tabs below. Required Required 2 Required 3 Estimate ending inventory for 2016 assuming Raleigh Departmentt Store used the LIFO retail method. Cost-to- Cost Retal Retall Ratio Beginning inventary 39,960 S 52,000 Add: Purchases 356,160 560.000 Add: Freight-in 30,000 Less: Purchase retums (6,600) (17.000) Less: Purchase discounts (5,700) Add: Net markups 32,000 Less: Net markdowns (17.000) Gpods available far sale (excluding beginning inventory) Goods available for sale (including beginning inventory) 379,560 558,000 419,520 610,000 Cost-to relail percentage (543,500) (2,500) Less: Net sales Less: Employee discounts Estimated ernding inventory at retail 64,000 Estimated ernding inventory at cost Required 1 Required S