Cullumber Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2017: Cost Retail Inventory, 1/1/17 $ 283000 $421000 Net purchases 1144000 1696000 Net markups 205000 Net markdowns 91000 Net sales 1600000 Assuming that the price index was 105 at December 31, 2017 and 100 at January 1, 2017, what is the cost of Cullumber's inventory at December 31, 2017 under the dollar-value-LIFO retail method? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to 0 decimal places.) $600952. $471950. $396370. $402038.

Cullumber Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2017: Cost Retail $ 283000 Inventory, 1/1/17 $421000 1144000 1696000 Net purchases 205000 Net markups 91000 Net markdowns 1600000 Net sales Assuming that the price index was 105 at December 31, 2017 and 100 at January 1, 2017, what is the cost of Cullumber's inventory at December 31, 2017 under the dollar-value-LIFO retail method? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 and final answer to O decimal places.) $ 600952. $ 471950. $ 396370