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


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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