College Paper Writing Service-Describe the circumstances under which the retail inventory method would be applied and the advantages of using the retail inventory method

College Paper Writing Service-Describe the circumstances under which the retail inventory method would be applied and the advantages of using the retail inventory method

a) Describe the circumstances under which the retail inventory method would be applied and the advantages of using the retail inventory method

b) Assuming that prices have been stable, calculate the value, at cost, of Becker Department Stores’ ending inventory using the last-in, first-out (LIFO) retail method. Be sure to furnish supporting calculations.\

c) Estimate the amount of shortage, at retail, that has occurred at Becker Department Stores during the year ended November 30, 2017.

d) Complications in the retail method can be caused by such items as (1) freight-in costs, (2) purchase returns and allowances, (3) sales returns and allowances, and (4) employee discounts. Explain how each of these four special items is handled in the retail inventory method.