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plz solve this Q Chapter 9 Inventories: Additional Issues Seved Help Save & Exit Submit Check my work Problem 9-11 (Static) Dollar-value LIFO retail [LO9-5)
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Chapter 9 Inventories: Additional Issues Seved Help Save & Exit Submit Check my work Problem 9-11 (Static) Dollar-value LIFO retail [LO9-5) On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: 10 points Skipped 2021 2022 Retail Cost Retail Cost Beginning inventory Net purchases Freight-in Net markupa $28,000 40,000 10B,000 $90,000 $114,000 2,500 85,000 2,000 10,000 8,000 eBook Net markdowns 2,000 2,200 104,000 4,000 Net sales to customere 100,000 Salea to employeea (net of 20 diacount) Price Index 2,400 Print January 1, 2021 December 31, 2021 December 31, 2022 1.00 1.06 1.10 References Required: Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method. (Do not round other intermediate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and final answers to the nearest whole dollar.) 2021 2022 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold LOStep by Step Solution
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