Hardev On January 1, 2024, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost andretail, and cost indexes for 2024 and 2025 are as follows:Beginning inventoryNet purchasesFreight-inNet markupsNet markdownsNet sales to customersSales to employees (net of 20% discount)Price Index:January2024December 31, 2024December 31, 2025Estimated ending inventory at retailEstimated ending inventory at costEstimated cost of goods sold20242024Cost$ 51,800101,1503,700Retail$ 74,000125,000202518,5003,700125, 2503,000Cost2025$ 107,5324,200Retail$ 131,700Required:Estimate the 2024 and 2025 ending inventory and cost of goods sold using the dollar-value LIFO retail inventory method.Note: Do not round other intermediate calculations. Round your cost-to-retail percentage calculation to 2 decimal places and finalanswers to the nearest whole dollar.11,4003,900118,8006,7201.001.061.10

Name: Hardev On January 1, 2024, HGC Camera Store adopted the dollar-value L
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: Hardev On January 1, 2024, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost andretail, and cost indexes for 2024 and 2025 are as follows:Beginning inventoryNet purchasesFreight-inNet markupsN