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23 On January 1, 2018, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost and at retail were $200,000 and
23 On January 1, 2018, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost and at retail were $200,000 and $242,550, respectively. Net purchases during the year at cost and at retail were $700,000 and $865,000, respectively. Markups during the year were $10,000. There were no markdowns. Net sales for 2018 were $800,450. The retail price index at the end of 2018 was 1.05. What is the inventory balance that Coldstone would report in its 12/31/2018 balance sheet? (Do not round intermediate calculations.) 0/4 points awarded Scored Multiple Choice $241,600. O O $317100 O $249,938 $253,680
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