Please do not give solution in image format thanku Net markupsNet markdownsNet sales to customersSales to employees (net of 20% discount)Normal spoilagePrice Index:January 1, 2024December 31, 2024December 31, 2025Problem 9-13 (Algo) Part 2Estimated ending inventory at retailEstimated ending inventory at costEstimated cost of goods sold1.001.251.25Average Cost RetailMethod5,9004,600500,00024,0003,500Required:2. Estimate the 2024 ending inventory and cost of goods sold using the average cost retail method.Note: Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar.11,6007,900720,00024,0006,800 [The following information applies to the questions displayed below.]On January 1, 2024, Pet Friendly Stores adopted the retail inventory method. Inventory transactions at both cost and retail,and cost indexes for 2024 and 2025 are as follows:Beginning inventoryPurchasesPurchase returnsFreight-inNet markupsNet markdownsNet sales to customersSales to employees (net of 20% discount)Normal spoilagePrice Index:January 1, 2024December 31, 2024December 31, 20252024Cost$ 159,250450,0004,5007,2001.001.251.25Retail$ 245,000631,0003,5505,9004,600500,00024,0003,500Cost$ 685,0004,1007,0002025Retail$ 918,0004,50011,6007,900720,00024,0006,800

Name: Please do not give solution in image format thanku Net markupsNet mark
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Description: Please do not give solution in image format thanku Net markupsNet markdownsNet sales to customersSales to employees (net of 20% discount)Normal spoilagePrice Index:January 1, 2024December 31, 2024December 31, 2025Problem 9-13 (Algo) Part 2Estimated e

calculation of Estimated inventory at retail ,Estimated inventory at cost , Estimated cost of goods…

Business

Accounting

Required: 2. Estimate the 2024 ending inventory and cost of goods sold using the average cost retail method. Note: Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Average Cost Retail Method

Required: 2. Estimate the 2024 ending inventory and cost of goods sold using the average cost retail method. Note: Round your cost-to-retail percentage to 2 decimal places and round your final answers to nearest whole dollar. Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold Average Cost Retail Method

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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