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Problem 9-13 Retail inventory method; various applications (LO9-3, 9-4, 9-5) On January 1, 2018, Per Friendly Stores adopted the retail inventory method. Inventory transactions at
Problem 9-13 Retail inventory method; various applications (LO9-3, 9-4, 9-5) On January 1, 2018, Per Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail and cast indexes for 2018 and 2019 are as follows: 2018 2019 Retail Retail Cost Cost Begioning inventory Purchases Purchase returns treight-in $168,750 $225,800 503,000 4,000 5,00 633,000 S665, 000 $1,113,000 3,700 3,00 3,650 Net markups Net markdowns Net sales to customers Sales to enployees (ret of 30% alscount) Tormal spollage Price IndexI January 1, 2018 December 31, 2018 Decenber 31, 2019 6,100 4,450 453,000 20, sae 6, 0 10,800 7,500 712,000 20,30 6,400 1.00 1.25 1.25 Required: 1. Estimate the 2018 and 2019 ending inventory and cost of goods sold using the doller vnlue LIFO retail method 2. Estimate the 2018 ending inventory and cost of goods sold using the average cost retal method. 3. Estimate the 2018 ending inventory and cost of goods sold using the conventionel retail method Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar value LIFO retail method. (Round final answers to the nearest whole dollar) 2018 2019 358,000 S 730,600 Estmated endng mvertory at retsf Estmated endng inventory at cost 233.150 Estimated cost ot grods sold 435,400 Reg 2 and 3> Problem 9-13 Retail inventory method; various applications (LO9-3, 9-4, 9-5) On January 1, 2018, Per Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail and cast indexes for 2018 and 2019 are as follows: 2018 2019 Retail Retail Cost Cost Begioning inventory Purchases Purchase returns treight-in $168,750 $225,800 503,000 4,000 5,00 633,000 S665, 000 $1,113,000 3,700 3,00 3,650 Net markups Net markdowns Net sales to customers Sales to enployees (ret of 30% alscount) Tormal spollage Price IndexI January 1, 2018 December 31, 2018 Decenber 31, 2019 6,100 4,450 453,000 20, sae 6, 0 10,800 7,500 712,000 20,30 6,400 1.00 1.25 1.25 Required: 1. Estimate the 2018 and 2019 ending inventory and cost of goods sold using the doller vnlue LIFO retail method 2. Estimate the 2018 ending inventory and cost of goods sold using the average cost retal method. 3. Estimate the 2018 ending inventory and cost of goods sold using the conventionel retail method Complete this question by entering your answers in the tabs below. Reg 1 Reg 2 and 3 Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar value LIFO retail method. (Round final answers to the nearest whole dollar) 2018 2019 358,000 S 730,600 Estmated endng mvertory at retsf Estmated endng inventory at cost 233.150 Estimated cost ot grods sold 435,400 Reg 2 and 3>
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