69232 is the wrong answer please help me with correct answer thanku On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided thefollowing information:Beginning inventoryNet purchasesNet markupsNet markdownsNet salesRetail price index, end of yearCostRetail$ 56,000 $80,000223,040330,0006,0008,000307,0001.02During 2022, purchases at cost and retail were $271,830 and $418,200, respectively. Net markups, net markdowns, and net sales forthe year were $7,000, $8,000, and $340,000, respectively. The retail price index at the end of 2022 was 1.08.Ending inventoryEstimate ending inventory in 2022 using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearestwhole dollar. Round ratio calculation to the nearest whole percent.)

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Description: 69232 is the wrong answer please help me with correct answer thanku On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided thefollowing information:Beginning inventoryNet purchas

Entities with huge stock in hand who estimates significant change in product mix. Uses the dollar…

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Accounting

Estimate ending inventory in 2022 using the dollar-value LIFO retail method. (Ro

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 14RE: On January 1 of Year 1, Dorso Company adopted the dollar-value LIFO method of inventory costing....

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