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Raleigh Department Store uses the conventional retail method for the year ended December 31, 2022. Available information follows: a. The inventory at January 1,2022 , had a retail value of $49,000 and a cost of $34,380 based on the conventional retail method. b. Transactions during 2022 were as follows: Sales to employees are recorded net of discounts. c. The retall value of the December 31,2023 , inventory was $85,330, the cost-to-retail percentage for 2023 under the LIFO retail method was 69%, and the appropriate price index was 106% of the January 1,2023, price level. d. The retall value of the December 31,2024 , inventory was $52,320, the cost-to-retall percentage for 2024 under the LIFO retail method was 68%, and the appropriate price index was 109% of the January 1,2023 , price level. Required: 1. Estimate ending inventory for 2022 using the conventional retall method. Note: Amounts to be deducted should be indicated with a minus sign. Round your cost-to-retall percentage calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34) and final answers to the nearest whole dollar. Raleigh Department Store uses the conventional retail method for the year ended December 31, 2022. Available information follows: a. The inventory at January 1,2022 , had a retail value of $49,000 and a cost of $34,380 based on the conventional retall method. b. Transactions during 2022 were as follows: Sales to employees are recorded net of discounts. c. The retail value of the December 31,2023 , inventory was $85,330, the cost-to-retall percentage for 2023 under the LIFO retail method was 69%, and the appropriate price index was 106% of the January 1,2023, price level. d. The retall value of the December 31, 2024, inventory was $52,320, the cost-to-retail percentage for 2024 under the LIFO retail method was 68%, and the appropriate price index was 109% of the January 1,2023 , price level. Required: 2. Estimate ending inventory for 2022 assuming Raleigh Department Store used the LIFO retail method. Note: Amounts to be deducted should be indicated with a minus sign. Round your cost-to-retall percentage calculation to 2 decimal places fi.e., 0.1234 should be entered as 12.34 ) and final answers to the nearest whole dollar. Required information [The following information applies to the questions displayed below] Raleigh Department Store uses the conventional retail method for the year ended December 31, 2022. Avallable information follows: a. The inventory at January 1,2022 , had a retail value of $49,000 and a cost of $34,380 based on the conventional retail method. b. Transactions during 2022 were as follows: Sales to employees are recorded net of discounts. c. The retail value of the December 31,2023 , Inventory was $85,330, the cost-to-retail percentage for 2023 under the LIFO retail method was 69%, and the appropriate price index was 106% of the January 1, 2023, price level. d. The retail value of the December 31,2024 , inventory was $52,320, the cost-to-retail percentage for 2024 under the LIFO retall method was 68%, and the appropriate price index was 109% of the January 1,2023 , price level. Required: 3. Assume Raleigh Department Store adopts the dollar-value LIFO retail method on January 1, 2023. Estimate ending inventory for 2023 and 2024. Note: Round your cost-to-retail percentage calculation to 2 decimal places (i.e., 0.1234 should be entered as 12.34 ) and final answers to the nearest whole dollar

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