On January 1, 2021, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2021: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, 12/31/2021 Cost Retail $ 71,280 $132,000 112,500 255,000 6,000 11,000 232,000 1.04 Required: Calculate the estimated ending inventory and cost of goods sold for 2021 using the information provided. (Do not round intermedi calculations.) Ending inventory at retail

On January 1, 2021, the Brunswick Hat Company adopted the dollar-value LIFO retail method. The following data are available for 2021: Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, 12/31/2021 Cost Retail $ 71,280 $132,000 112,500 255,000 6,000 11,000 232,000 1.04 Required: Calculate the estimated ending inventory and cost of goods sold for 2021 using the information provided. (Do not round intermedi calculations.) Ending inventory at retail

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter10: Inventory

Section: Chapter Questions

Problem 8EA: Calculate the cost of goods sold dollar value for A65 Company for the month, considering the...

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Beginning inventory, purchases, and sales for WCS12 are as follows: Assuming a perpetual inventory system and using the weighted average method, determine (a) the weighted average unit cost after the October 22 purchase, (b) the cost of the merchandise sold on October 29, and (c) the inventory on October 31.
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