A firm adopted the dollar value LIFO retail method on 1/1/X8 (at which time the price index was 100) and presents the following data. 10. DATA FOR COSTING INVENTORY USING DOLLAR VALUE LIFO RETAIL METHOD Cost Retail 50,000$ 200,000 January 1, 20X8 Inventory Purchases Net Markups Net Markdowns Sales 100,000 420,000 20,000 10,000 400,000 The ending price index for 20X8 is 108. What is the company's ending inventory that should be reported in its financial statements? (a) $60,230 (b) $56,410. (c) $70,454. (d) $62,347