Required information Problem 9-13 (Algo) Retail inventory method; various applications (LO9-3, 9-4, 9-5) [The following information applies to the questions displayed below] 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: 2022 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 30% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $102,300 $165,000 484,800 715,800 2,800 1,500 5,000 5,500 4,000 634,000 11,900 5,200 $625,000 $974,800 2,500 6,180 8,000 8,400 6,300 660,000 11,900 4,100 1.00 1.25 1.25 Problem 9-13 (Algo) Part 1 Required: 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 at retail Estimated ending inventory at cost Estimated cost of goods sold Required information Problem 9-13 (Algo) Retail inventory method; various applications (LO9-3, 9-4, 9-5) [The following information applies to the questions displayed below] 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: 2022 Cost Retail Beginning inventory Purchases Purchase returns Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 30% discount) Normal spoilage Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 Cost Retail $102,300 $165,000 484,800 715,800 2,800 1,500 5,000 5,500 4,000 634,000 11,900 5,200 $625,000 $974,800 2,500 6,180 8,000 8,400 6,300 660,000 11,900 4,100 1.00 1.25 1.25 Problem 9-13 (Algo) Part 1 Required: 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 at retail Estimated ending inventory at cost Estimated cost of goods sold