Chapter 9 Inventories: Additional Valuation lssues Hughes Corporation. E9-27 (LO7) lar-Value LIFO Retai Presented below is information related to Langston LIFO Price Cost Retail Index Inventory on December 31,2017, $36,000 74,500 when dollar-value LIFO is adopted 100,100 tory, December 31, 2018 Instructions dollar-value LIFomethod at December 31, 2018. The cost-to-retail ratio for 2018 was Compute the ending inventory under the Retail and Dollar-Value LIFo Retail ras Corporation began operations on January ith a beginning inventory of s30.100 $50,000 at retail. The following information relates to 2017. at cost and Retail $150,000 Net purchases ($108,500 at cost) 10,000 Net markups 5,000 Net markdowns Sales revenue 126,900 ctions balance Amiras decided to adopt the conventional retail method. Compute the inventory to be repo sheet. ending