On January 1, 2021, HGC Camera Store adopted the dollar-value
LIFO retail inventory method. Inventory transactions at both cost
and retail, and cost indexes for 2021 and 2022 are as
follows:
Required:
Estimate the 2021 and 2022 ending inventory and cost of goods sold
using the dollar-value LIFO retail inventory
method. (Do not round other intermediate calculations.
Round your cost-to-retail percentage calculation to 2 decimal
places and final answers to the nearest whole dollar.)
On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at bo
-
- Site Admin
- Posts: 899603
- Joined: Mon Aug 02, 2021 8:13 am