Chapter 8 Inventories: Special Valuation Issues Required: Compute the cost of the ending inventory for 2016, 2017, and 2018. Round the cost-to-retail ratio to 3 decimal places ll Dollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 2015. The fol 3.5 lowing data apply to the 4 subsequent years: Reloil Retail Cost 2015 Inventory, January 1 $40,000 80,000 2017 Purchases $117,600 $280,000 260,000 147,200 320,000 300,000 85,500 190,000 Purchases 200,000 2018 Purchases Sales 92,000 230,000 2016 Purchases 210,000 Sales In addition, the following price indexes are available: 120 100 December 31, 2017 January 1, 2015 105 December 31, 2018 125 December 31, 2015 December 31, 2016 110 Required Round ratio to 3 decimal places Compute the inventory at the end of each of the 4 years. the cost-to-retail Dollar-value LIFo Retail and Fire Loss Golden Company adopted the dollar-value retail LIFo method January 1, 2016. The following information relates to the following 2 years: 2017 (through September 7) 2016