Problem 9-13 Retail inventory method; various applications (LO9-3, 9-4, 9-5] On January 1, 2018, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows: 2019 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 25% discount) Normal spoilage Price Index: January 1, 2018 December 31, 2018 December 31, 2019 2018 Cost Retail $108,500 $175,000 520,000 805,000 3,200 5,000 4,500 6,150 4,150 670,000 22,500 2,000 $635,000 $800,000 2,700 4,425 6,000 8,800 6,500 692,000 22,500 5,400 1.00 1.10 1.23 Required: 1. Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail method. 2. Estimate the 2018 ending inventory and cost of goods sold using the average cost retail method. 3. Estimate the 2018 ending inventory and cost of goods sold using the conventional retail method. Problem 9-13 Retail inventory method; various applications (LO9-3, 9-4, 9-5] On January 1, 2018, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows: 2019 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 25% discount) Normal spoilage Price Index: January 1, 2018 December 31, 2018 December 31, 2019 2018 Cost Retail $108,500 $175,000 520,000 805,000 3,200 5,000 4,500 6,150 4,150 670,000 22,500 2,000 $635,000 $800,000 2,700 4,425 6,000 8,800 6,500 692,000 22,500 5,400 1.00 1.10 1.23 Required: 1. Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retail method. 2. Estimate the 2018 ending inventory and cost of goods sold using the average cost retail method. 3. Estimate the 2018 ending inventory and cost of goods sold using the conventional retail method