Question: Need some help with that. Some answers are correct, some not On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method.

Need some help with that. Some answers are correct, some not

Need some help with that. Some answers are correct, some not OnJanuary 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory

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: 2021 2022 Cost Retail Cost Retail Beginning inventory $ 58,500 $ 78,000 Net purchases 110,180 127,000 $115,808 $133,100 Freight-in 3,900 4,400 Net markups 19,500 11,800 Net markdowns 3,900 4,100 Net sales to customers 125,380 119,140 Sales to employees (net of 20% discount) 3,600 6,000 Price Index: January 1, 2021 1.00 December 31, 2021 1.08 December 31, 2022 1.14 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.) Estimated ending inventory at retail 104,880 Estimated ending Inventory at cost 67,246 Estimated cost of goods sold 112,421

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