Cullumber Corporation began operations on January 1, 2017, with a beginning inventory of $41,450 at cost and $50,800 at retail. The following information relates to 2017.

		Retail
Net purchases ($106,600 at cost)		$150,700
Net markups		10,000
Net markdowns		5,000
Sales revenue		125,600

A) Assume Cullumber decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet.

B) Assume instead that Cullumber decides to adopt the dollar-value LIFO retail method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balance sheet.

C) On the basis of the information in part (b), compute cost of goods sold.