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 Cost $ 82,600 119,500 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. $ $ Ending inventory at retail Ending inventory at cost. Cost of goods sold 162,000 86,386 122,113 Retail $ 140,000 247,000 4,000 12,000 217,000 1.08
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 Cost $ 82,600 119,500 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. $ $ Ending inventory at retail Ending inventory at cost. Cost of goods sold 162,000 86,386 122,113 Retail $ 140,000 247,000 4,000 12,000 217,000 1.08
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, 12/31/2024
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.
Ending inventory at retail
Ending inventory at cost
Cost of goods sold
Cost
$ 82,600
119,500
$
$
$
162,000
86,386
122,113
Retail
$ 140,000
247,000
4,000
12,000
217,000
1.08](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2Fcba3627b-2c9b-4336-9916-83d32b244788%2Fd56f9f84-4846-4133-acec-c14e1abdad51%2Fgw179ji_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, 12/31/2024
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.
Ending inventory at retail
Ending inventory at cost
Cost of goods sold
Cost
$ 82,600
119,500
$
$
$
162,000
86,386
122,113
Retail
$ 140,000
247,000
4,000
12,000
217,000
1.08
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