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On January HGC Camera Store adopted the dollarvalue LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for and are as follows:
tableCostRetail,,Cost,RetailBeginning inventory,$ $ Net purchases,$$ FreightinNet markups,,Net markdowns,,Net sales to customers,,Sales to employees net of discountPrice Index:,,,,,January December December
Required:
Estimate the and ending inventory and cost of goods sold using the dollarvalue LIFO retail inventory method.
Note: Do not round other intermediate calculations. Round your costtoretail percentage calculation to decimal places and final answers to the nearest whole dollar.
Answer is not complete.
tableEstimated ending inventory at retail,$$
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