complete chart 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:January 1, 2024December 31, 2024December 31, 2025Estimated ending inventory at retailEstimated ending inventory at costEstimated cost of goods sold$20242024Cost$ 39,20092,6002,80065,720 $2025Retail$ 56,000116,0001.001.061.10ARequired: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.14,0002,800113,3553,300< Prev77,0005 of 5Cost2025$ 104,1663,300HRetail$ 128,4009,6003,000117,1205,280Next >

Name: complete chart On January 1, 2024, HGC Camera Store adopted the dollar
Uploaded: 2024-03-20T06:32:37.000Z
Channel: Bartleby
Description: complete chart 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