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On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retall inventory method. Inventory transactions at both cost and retall, and cost indexes for
On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retall inventory method. Inventory transactions at both cost and retall, and cost indexes for 2021 and 2022 are as follows: Required: Estimate the 2021 and 2022 ending Inventory and cost of goods sold using the dollar-value LIFO retall Inventory method. (Do not round other intermedlate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and final answers to the nearest whole dollar.)
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