(L07) (Dollar-Value LIFO Retail) Connie Chung Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of $54,000 and a retail price of $100,000. The following information is available.

Year-End Current Year Year-End Inventory at Retail Cost—Retail % Price Index 2016 $118,720 57% 106 2017 138,750 60% 111 2018 125,350 61% 115 2019 162,500 58% 125 The price index at January 1, 2016, is 100.

Instructions Compute the ending inventory at December 31 of the years 2016–2019. (Round to the nearest dollar.)

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