On January 1, 2021, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows:

2021. 2022

Cost. Retail. Cost. Retail

beginning inventory: 108500 175000.

Purchases: 520000 805000. 635000 800000

Purchases return: 3200. 5000. 2700. 4425

Freight-in: 4500. 6000

Net markups: 6150. 8800

Net markdowns: 4150. 6500

Net sale to customers: 670000 692000

Sales employees(net 25%). 22500. 22500

Normal Spoilage. 2000. 5400

Price Index:

January 1,2021. 1.00

December 31,2021. 1.10

December 31,2022. 1.23

1. Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail method.

2021. 2022

Estimated ending inventory retail:

Estimated endong inventory cost:

Estimated cost of goods sold:

2. Estimate the 2021 endong inventory and cost if goods sold using the average cost retail method

Average Cost Retail Method

Est.ending inventory retail:

Est.ending inventory cost:

Est. cost of goods sold:

3. Estimate the 2021 ending inventory and cost of goods sold using the conventional retail method

Conventional Retail Method

Est.ending inventory retail:

Est.ending inventory cost:

Est. cost if goods sold: