answer: 98002 is wrong. Check my work Brief Exercise 9-12 (Algo) Dollar-value LIFO retail...
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answer: 98002 is wrong.
Check my work Brief Exercise 9-12 (Algo) Dollar-value LIFO retail (LO9-5) On January 1, 2021, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information: Beginning inventory Net purchases Net markups Not mackdowns Net salen Retail price index, end of year Cost Retail $ 55,250 $ 85,000 222,390 355,000 5,000 7,000 332,000 1.02 During 2022, purchases at cost and retail were $275,700 and $459,500, respectively. Net markups, net markdowns, and net sales for the year were $4,000, $5,000, and $365,000, respectively. The retail price index at the end of 2022 was 105 Estimate ending inventory in 2022 using the dollar-value LIFO retail method (Round your intermediate calculations to the nearest whole dollar. Round ratio calculation to the nearest whole percent.) Ending inventory $ 98,002
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