Wildhorse Corporation began operations on January 1, 2017, with a beginning inventory of $30,532 at cost and $50,600 at retail. The following information relates to 2017. Retail Net purchases ($108,200 at cost) $149,600 Net markups 10,000 Net markdowns 4,900 Sales revenue 128,000

Assume Wildhorse decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to 0 decimal places, e.g. 28,987.)

Assume instead that Wildhorse decides to adopt the dollar-value LIFO retail method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to 0 decimal places, e.g. 28,987.) Ending inventory using the dollar-value LIFO retail method

On the basis of the information in part (b), compute cost of goods sold. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to 0 decimal places, e.g. 28,987.) Cost of goods sold using the dollar-value LIFO retail method