Question: I really need help On January 1, 2018, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail,
On January 1, 2018, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2018 and 2019 are as follows: 2018 2019 CostiiRetailCost:. Retail Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers sales to employees (net of 20% discount) Price Index s 51,800 74,000 101,150 125,000 $107,532 $131,700 3,700 4,200 18,500 3,700 125,250 3,000 11,400 3,900 118,800 6,720 January 1, 2018 December 31, 2018 December 31, 2019 1.00 1.06 1.10 Required: Estimate the 2018 and 2019 ending inventory and cost of goods sold using the dollar-value LIFO retalil inventory method. (Do not round other intermediate calculations. Round your cost-to-retail percentage calculations to 2 declmal places and final answers to the nearest whole dollar) 2018 2019 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold
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