On January 1, 2021, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at bo
Posted: Tue Nov 16, 2021 9:10 am
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.)
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.)