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Trying to come up with right answers for this problem. Here I have reworked. Below is how I did. First in yellow is 2018,2019, and

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Trying to come up with right answers for this problem.

image text in transcribed

Here I have reworked. Below is how I did.

image text in transcribed

image text in transcribed

image text in transcribed

First in yellow is 2018,2019, and my layers respectively. Could you say I am on the right track?

This is all the information I have.

Problem 9-13 Retail inventory method: various applications (L09-3.9-4.9-5) 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 folow Purchases Purchase retures Freihin Sales to employees Required 1. Estimate the 2015 and 2019 ending inventory and cost of goods sold using the dollar value LIFO retai 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 ung the conventional retail method Answer is complete but not entirely correct. Complete this question by entering your answers in the tabs below. Estimate the 2015 and 2010 ending inventory and cost of answers to the nearest whole dollar) LIFO retail method (Rounding ending for a 300 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 2919 Retail Cost 5168,250 $225,000 se3,00 63), de 4 egg 3,652 5665,0 3,70 $1,113, de 5.58 Beginning inventory Purchases Purchase returns Freight-in het terkups Het warkdowns Net sales to customers Sales tomoloyees het of sex discount) Normal spoilage 5,00 10,800 4.450 453,888 28, Jae 6,009 7,5ee 712, de 20,300 6,400 January 1, 2018 December 31, 2019 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 wing the conventional retail method Complete this question by entering your answers in the tabs below. Regl Reg 2 and 3 Estimate the 2018 and 2019 ending invertory and cost of goods and using the dollar value UFO retail method. Roundtrial n ors to the nearest wiele dollar 2018 2017 Estimated eang invertory 365,000 $ 731,100 r nestory cost $ 238,1505 500.000 Extmated courteo 5 45.400 336,00 E Raq 2 and 3 > Retail 629, 350 Begin me Wet Purch Freight in Netchups Netmarkadan Gafs exch 6.100 856,ove 504,600 673,550 | Base layer 2016 layer co Less: Spoilage C 6,000 Lessi Net sales (473, 300 ( 8,700 Ending inventary at current year retail prices 368,000 Estimated ending inventory at cost (228150) Estimated cost of goods sold 435,400 Retail 661,300 5,000 Netlunch freight in Net. hu Net mac bats extu (7,500) 666,300 Down Gafsince beg, inu 904,450 1,478,500 Less: Normal Spoilage Les Netsales! bessidisconto 6,400) (735,300 C 8.7002 1 Ending inventory at current your retail prices 731,100 Estimated anding inventory at cost (508,060) Estimated cost of goods sold 396390 2019 layer cost to retail = 666,500 = 60%. 368.000 294,400 L2S 7 1687.50 69,400 269,910 x 400 x X 1.25 X X 1.25 61.400 (2018 584.880 731, 100

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