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The First Order Company maintains inventory at selling prices as well as at cost. For 2017, the records show the following: Cost Retail beginning inventory

The First Order Company maintains inventory at selling prices as well as at cost.
For 2017, the records show the following:
Cost Retail
beginning inventory 372 465
purchases 900 1450
freight in on purchases 45
purchase returns 2 5
mark ups 19
mark up cancels 4
mark downs 22
mark down cancels 6
sales 1010
During 2017, the price index went from 1.1 to 1.23. Using retail dollar value LIFO retail method determine
a) cost of goods sold for 2017
b) ending inventory on 12/31/2017

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