Question

On January 1, 2013, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2013 and 2014 are as follows:


Required:
Estimate the 2013 and 2014 ending inventory and cost of goods sold using the dollar-value LIFO retail inventorymethod.


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  • CreatedDecember 23, 2013
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