On January 1, 2024, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2024 and 2025 are as follows: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20% discount) Price Index: January 1, 2024 December 31, 2024 December 31, 2025 2024 Cost $ 48,000 103,040 3,200 Retail $ 64,000 120,000 16,000 3,200 117,850 3,800 Cost 2025 $ 115,150 3,700 Retail $ 133,000 10,400 3,400 119,440 5,920 1.00 1.06 1.12 Required: 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 final answers to the nearest whole dollar.

Knowledge Check Crane Works' uses a periodic inventory system. Its accounting records show the following as of December 31, 2025. Inventory, Dec. 31, 2025 Purchase Returns and Allowances Inventory, Jan. 1, 2025 Cost of goods purchased Cost of goods sold $ $4,050 $ 730 5,550 Compute cost of goods purchased and cost of goods sold. Freight-In Purchases Purchase Discounts $1,800 95,100 1,480 Sused Submit Answer

UMET's Stores had the following inventory transactions in 2020:                       Transaction             Units          Cost per unit 1/1                 Balance                    50                      $6 2/14               Sale                          25                        5/23              Purchase                  100                     8 8/21              Sale                           50                      11/5              Purchase                   25                     12 11/18            Sale                           95                        Required: Compute tge cost of goods sold and the ending inventory using the periodic inventory system for each of the following cost flow assumptions: a. FIFO b. LIFO c. Weighted average

On January 1, 2024, HGC Camera Store adopted the dollar-value LIFO retail inventory method. Inventory transactions at both cost and retail, and cost indexes for 2024 and 2025 are as follows: Beginning inventory Net purchases Freight-in Net markups Net markdowns Net sales to customers Sales to employees (net of 20 % discount) Price Index: January 1, 2024 December 31, 2024 December 31, 2025 Estimated ending inventory at retail Estimated ending inventory at cost Estimated cost of goods sold 2024 2024 Cost $ 56,000 104,000 4,000 Retail $ 80,000 128,000 2025 20,000 4,000 129,465 2,700 Cost 2025 $ 109,695 4,500 Required: 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 final answers to the nearest whole dollar. Retail $ 134,200 12,000 4,200 121,260 4,400 1.00 1.06 1.12