1. Tara's Treasures recently decided to value its inventories using dollar-value LIFO pools. Ending Inventory Date (End-of-Year Prices) Price Index Dec. 31, 2016 Dec. 31, 2017 Dec. 31, 2018 Dec. 31, 2019 Dec. 31, 2020 Dec. 31, 2021 Calculate the Ending Inventory Value for 2016-2021 using Dollar-Value LIFO COST Sales revenue Sales returns $375,000 426,600 464,000 461,000 524,000 512,500 2. The records of Pip's Puppy Company report the following data for the month of June: Beg Inv Purchases $96,000 Purchase Returns $4,000 $60,000 Markups Markup cancellations Markdowns Markdown cancellations Freight on purchases 2,000 RETAIL $93,000 $176,000 $204,000 $6,000 $4,000 $20,000 $3,000 $18,600 100 108 115 120 130 140 $5,600 Instructions: Compute the ending inventory by the conventional retail inventory method