Problem 14-11 and Problem 14-12. with clear solution and formatting pls. thank u need asap

Problem 14-12 (IAA) Flame Company adopted the FIFO approach of inventory pricing in connection with the use of the retail inventory method. The retail records showed the following: 2020 Cost Beginning inventory Retail Purchases 556,800 928,000 Net markup 4,576,000 7,028,000 Net markdown 42,000 Sales 30,000 6,840,000 2021 Purchases Net markup 4,760,000 6,812,000 Net markdown 56,000 Sales 68,000 6,928,000 Required: Determine the estimated cost of inventory on December 31, 2020 and 2021 applying the FIFO retail approach. Problem 14-13 (LAA) Grotesque Company which employed the FIFO retail method provided the following inventory data: 2020 Cost Retail Beginning inventory 420,000 600,000 Purchases 5,011,200 6,890,000 160,000 Net markup . 90,000 Net markdown 6,839,000 Sales 2021 4,970,000 7,110,000 Purchases 100,000 Net markup 110,000 Net markdown 7,033,000 Sales Required: Determine the estimated cost of inventory on December 31, 2020 and 2021 applying the FIFO retail approach.Problem 14-11 (IAA) Ross Company provided the following data for the current year: Cost Retail Beginning inventory 1,650,000 2,000,000 Net purchases 4,200,000 Net markup 800,006. Net markdown 200,000 - Net sales ? The entity used the average retail inventory method to estimate ending inventory. It was determined that the average cost of the ending inventory was P1,950,000. If the entity used the FIFO retail method, the cost ratio would have been 60%. 1. What is the amount of net purchases at original retail before markup and markdown? a. 7,600,000 b. 7,000,000 C. 4,200,000 d. 6,400,000 2. What amount was reported as net sales? a. 9,000,000 b. 3,000,000 C. 6,000,000 d. 7,000,000 3. What amount was reported as cost of goods sold? a. 3,900,000 b. 3,000,000 C. 3,600,000 d. 1,800,000