Question: On January 1, 2011, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for

On January 1, 2011, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2011 and 2012 are as follows:

Required:

Estimate the 2011 and 2012 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.

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