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csn you please put the answer in details ans highlight the correct answes.
The records of Diskount Department Stores Inc. provided the following data for 20x5: $800,000 2,000 9,000 5,000 7,000 Sales (gross) Sales returns Additional markups Additional markup cancellations Markdowns Purchases: At retail At cost Purchase returns: At retail At cost Freight on purchases Beginning inventory: At retail At cost Markdown cancellations 850,000 459,500 4,000 2,200 7,000 80,000 45,000 3,000 Required: 1. Estimate the valuation of the ending inventory and cost of goods sold using the gross margin method. Last year's gross margin percentage was 51% Estimated cost of ending inventory Estimated cost of goods sold
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