Exercise 9-19 (Algo) Dollar-value LIFO retail [LO9-5] On January 1, 2024, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2024: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, 12/31/2024 Answer is complete but not entirely correct. retail 25,000 25,000 25,000 Ending inventory at Ending inventory at cost Cost of goods sold Required: Calculate the estimated ending inventory and cost of goods sold for 2024 using the information provided. Note: Do not round intermediate calculations. $ Cost $ 72,420 107,100 WWW $ Retail $ 142,000 264,000 6,000 15,000 229,000 1.05
Exercise 9-19 (Algo) Dollar-value LIFO retail [LO9-5] On January 1, 2024, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2024: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, 12/31/2024 Answer is complete but not entirely correct. retail 25,000 25,000 25,000 Ending inventory at Ending inventory at cost Cost of goods sold Required: Calculate the estimated ending inventory and cost of goods sold for 2024 using the information provided. Note: Do not round intermediate calculations. $ Cost $ 72,420 107,100 WWW $ Retail $ 142,000 264,000 6,000 15,000 229,000 1.05
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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![Exercise 9-19 (Algo) Dollar-value LIFO retail [LO9-5]
On January 1, 2024, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for
2024:
Beginning inventory
Net purchases
Net markups
Net markdowns
Net sales
Retail price index, 12/31/2924
Cost
$ 72,420
107,100
Required:
Calculate the estimated ending inventory and cost of goods sold for 2024 using the information provided.
Note: Do not round intermediate calculations.
Answer is complete but not entirely correct.
s
Ending inventory at retail
Ending inventory at cost
Cost of goods sold
$
S
Retail
$ 142,000
264,000
6,000
15,000
229,000
1.05
25,000
25,000 Ⓒ
25,000](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F0c1e9b49-5d13-42b7-a876-655e131b2a8d%2F56db32db-687f-429d-8227-a0203fb75c61%2F6jbam_processed.jpeg&w=3840&q=75)
Transcribed Image Text:Exercise 9-19 (Algo) Dollar-value LIFO retail [LO9-5]
On January 1, 2024, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for
2024:
Beginning inventory
Net purchases
Net markups
Net markdowns
Net sales
Retail price index, 12/31/2924
Cost
$ 72,420
107,100
Required:
Calculate the estimated ending inventory and cost of goods sold for 2024 using the information provided.
Note: Do not round intermediate calculations.
Answer is complete but not entirely correct.
s
Ending inventory at retail
Ending inventory at cost
Cost of goods sold
$
S
Retail
$ 142,000
264,000
6,000
15,000
229,000
1.05
25,000
25,000 Ⓒ
25,000
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