Question: er 9 Saved Help Save & Exit Submit Check my work On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method.
er 9 Saved Help Save & Exit Submit Check my work On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2021 and 2022 are as follows: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 200 discount) Price Index: January 1, 2021 December 31, 2021 December 31, 2022 2021 2022 Cost Retail Cost Retail $43,400 $ 62,000 95,450 119,000 $104,274 $128,100 3,100 3,600 15,500 10,200 3,100 3,300 117,375 115,600 3,700 5,760 1.00 1.05 1.10 Required: Estimate the 2021 and 2022 ending inventory and cost of goods sold using the dollar value LIFO retail inventory method. (Do not round other intermediate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and final answers to the nearest whole dollar.) 2021 2022 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold
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