Question: On January 1 , 2 0 2 4 , Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail, and

On January 1,2024, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost
and retail, and cost indexes for 2024 and 2025 are as follows:
Required:
Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-value LIFO retail
method.
Estimate the 2024 ending inventory and cost of goods sold using the average cost retail method.
Estimate the 2024 ending inventory and cost of goods sold using the conventional retail method.
On January 1,2024, Pet Friendly Stores adopted the retail inventory method.

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