Required information (The following information applies to the questions displayed below.) Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: a. The inventory at January 1, 2019, had a retail value of $51,000 and a cost of $38,060 based on the conventional retail method b. Transactions during 2019 were as follows: Cost $344,940 6,500 5,600 Retail $550,000 16,000 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net markups Net markdowns 544,000 5,000 6,000 29,500 31,000 16,000 Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2020, inventory was $60,180, the cost-to-retail percentage for 2020 under the LIFO retail method was 75%, and the appropriate price index was 102% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, inventory was $51,450, the cost-to-retail percentage for 2021 under the LIFO retail method was 74%, and the appropriate price index was 105% of the January 1, 2020 price level Required: 1. Estimate ending inventory for 2019 using the conventional retail method (Amounts to be deducted should be indicated with a minus sign.) Cost Retail Cost-to-Retail Ratio Beginning inventory Add Purchases 'Asd Freight in Loss Purchase discounts Add Net markups 0 Goods available for sale $ 0 0 Cost to real percentage Loss Net sales Sales (The following information applies to the questions displayed below.) Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: a. The inventory at January 1, 2019, had a retail value of $51,000 and a cost of $38,060 based on the conventional retail method. b. Transactions during 2019 were as follows: Cost $344,940 6,500 5,600 Retail $550,000 16,000 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net markups Net markdowns 544,000 5,000 6,000 29,500 31,000 16,000 Sales to employees are recorded net of discounts. c. The retail value of the December 31, 2020, inventory was $60,180, the cost-to-retail percentage for 2020 under the LIFO retail method was 75%, and the appropriate price index was 102% of the January 1, 2020, price level. d. The retail value of the December 31, 2021, inventory was $51,450, the cost-to-retail percentage for 2021 under the LIFO retail method was 74%, and the appropriate price index was 105% of the January 1, 2020 price level. Required: 2. Estimate ending inventory for 2019 assuming Raleigh Department Store used the LIFO retail method. (Amounts to be deducted should be indicated with a minus sign.) Cost Retail Cost-to-Retail Ratio Beginning inventory Goods available for sale (excluding beginning inventory) Goods available for sale (including beginning inventory) $ 0 0 Cost to retail percentage O Required information (The following information applies to the questions displayed below.) Raleigh Department Store uses the conventional retail method for the year ended December 31, 2019. Available information follows: a. The inventory at January 1, 2019, had a retail value of $51,000 and a cost of $38,060 based on the conventional retail method b. Transactions during 2019 were as follows: Cost $344,940 6,500 5,600 Retail $550,000 16,000 Gross purchases Purchase returns Purchase discounts Gross sales Sales returns Employee discounts Freight-in Net markups Net markdowns 544,000 5,000 6,000 29,500 31,000 16,000 Sales to employees are recorded net of discounts c. The retail value of the December 31, 2020, inventory was $60,180, the cost-to-retail percentage for 2020 under the LIFO retail method was 75%, and the appropriate price index was 102% of the January 1, 2020. price level. d. The retail value of the December 31, 2021, inventory was $51,450, the cost-to-retail percentage for 2021 under the LIFO retail method was 74%, and the appropriate price index was 105% of the January 1, 2020, price level. Required: 3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2020. Estimating ending inventory for 2020 and 2021 Total ending inventory at dollar value LIFO retail cost, 2020 Total ending inventory at dollar value LIFO retail cost, 2021