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On January 1 , 2 0 2 4 , Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and
On January Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for and are as follows: Cost Retail Cost Retail Beginning inventory $ $ Purchases $ $ Purchase returns Freightin Net markups Net markdowns Net sales to customers Sales to employees net of discount Normal spoilage Price Index: January December December Problem Algo Part Required: Estimate the and ending inventory and cost of goods sold using the dollarvalue LIFO retail method. Note: Round your costtoretail percentage calculation to decimal places ie should be and final answers to the nearest whole dollar.
On January Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for and are as follows:
Cost Retail Cost Retail
Beginning inventory $ $
Purchases $ $
Purchase returns
Freightin
Net markups
Net markdowns
Net sales to customers
Sales to employees net of discount
Normal spoilage
Price Index:
January
December
December
Problem Algo Part
Required:
Estimate the and ending inventory and cost of goods sold using the dollarvalue LIFO retail method.
Note: Round your costtoretail percentage calculation to decimal places ie should be and final answers to the nearest whole dollar.
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