Required Information Problem 9-12 (Statle) Retall Inventory method; varlous appllcetions [LO9-3, 9-4, 9-5] [The following information applies to the questions displayed below.] Raleigh Department Store uses the conventional retall method for the year ended December 31, 2019. Avallable information follows: a. The inventory at January 1, 2019, had a retall value of $45,000 and a cost of $27,500 based on the conventional retall method. b. Transactions during 2019 were as follows: Sales to employees are recorded net of discounts. c. The retall value of the December 31,2020 , inventory was $56,100, the cost-to-retall percentage for 2020 under the LIFO retall method was 62%, and the approprlate price index was 102% of the January 1,2020 , price level. d. The retall value of the December 31,2021 , Inventory was $48,300, the cost-to-retall percentage for 2021 under the LIFO retall method was 61\%, and the approprlate price Index was 105\% of the January 1, 2020, price level. roblem 912 (Statlc) Part 1 equired: Estimate ending Inventory for 2019 using the conventional retall method. (Amounts to be deducted should be indicated with a inus slgn.) Required: 1. Estimate ending inventory for 2019 using the conventional retall method. (Amounts to be deducted should be indicated with a minuic clnn! Required information Problem 9-12 (Statle) Retall Inventory method; varlous appllcetlons [LO9-3, 9-4, 9-5] [The following information applies to the questions displayed below.] Raleigh Department Store uses the conventional retall method for the year ended December 31, 2019. Avallable Information follows: a. The inventory at January 1,2019 , had a retall value of $45,000 and a cost of $27,500 based on the conventional retall method. b. Transactions during 2019 were as follows: Sales to employees are recorded net of discounts. c. The retall value of the December 31,2020 , Inventory was $56,100, the cost-toretall percentage for 2020 under the LIFO retall method was 62%, and the approprlate price Index was 102% of the January 1, 2020, price level. d. The retall value of the December 31,2021 , Inventory was $48,300, the cost-to-retall percentage for 2021 under the LIFO retall method was 61%, and the approprlate price Index was 105% of the January 1, 2020, price level. roblem 9.12 (Static) Part 2 equired: L Estimate ending Inventory for 2019 assuming Raleigh Department Store used the LIFO retall method. (Amounts to be deducted hould be indicated with a minus sign.) Required: 2. Estimate ending Inventory for 2019 assuming Raleigh Department Store used the LIFO retall method. (Amounts to be deducted should be indicated with a minus sign.) Required information Problem 912 (Stetle) Retall Inventory method; varlous appllcations [LO9-3, 9-4, 9-5] [The following information applies to the questions displayed below.] Raleigh Department Store uses the conventional retall method for the year ended December 31, 2019. Avallable information follows: a. The Inventory at January 1, 2019, had a retall value of $45,000 and a cost of $27,500 based on the conventional retall method. b. Transactions during 2019 were as follows: Sales to employees are recorded net of discounts. c. The retall value of the December 31,2020 , Inventory was $56,100, the cost-to-retall percentage for 2020 under the LIFO retall method was 62%, and the approprlate price index was 102% of the January 1, 2020, price level. d. The retall value of the December 31,2021 , Inventory was $48,300, the cost-to-retall percentage for 2021 under the LIFO retall method was 61%, and the approprlate price Index was 105% of the January 1, 2020, price level. Problem 9.12 (Static) Part 3 Required: Assume Raleigh Department Store adopts the dollar-value LIFO retall method on January 1, 2020. Estimate ending inventory for 020 and 2021. Required: 3. Assume Raleigh Department Store adopts the dollar-value LIFO retall method on January 1, 2020. Estumate ending Inventory for 2020 and 2021
