*E 9-26 (L07) (Dollar-Value LIFO Retail) You assemble the following information for Seneca Department Store, which computes its inventory under the dollar-value LIFO method.

Instructions Compute the cost of the inventory on December 31, 2017, assuming that the inventory at retail is

(a) $294,300 and

(b) $365,150.

E 9-27 (L07) (Dollar-Value LIFO Retail) Presented below is information related to Langston Hughes Corporation.

Instructions Compute the ending inventory under the dollar-value LIFO method at December 31, 2018. The cost-to-retail ratio for 2018 was 60%.

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Cost Retail Inventory on January 1, 2017 $216,000 $300,000 Purchases 364,800 480,000 Increase in price level for year 9%