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Crane Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $305000 $483000 Purchases 1280000 1690000
Crane Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $305000 $483000 Purchases 1280000 1690000 Freight-in 18000 Employee discounts 8700 Net markups 57000 Net markdowns 67000 Sales revenue 1490000 Assuming that the LIFO inventory method is used, that the beginning inventory is the base inventory when the index was 100, and that the index at year end is 112, the ending inventory at dollar-value LIFO retail cost is (Hint: Round intermediate calculation to 3 decimal places, e.g. 0.635 and final answer to O decimal places.)
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