Current Attempt in Progress

Wildhorse Company began operations on January $1,2024,$ adopting the conventional retail inventory system. None of the company's $-$ merchandise was marked down in $2024$ and, because there was no beginning inventory, its ending inventory for $2024$ of $$31,476$ would have been the same under either the conventional retail system or the LIFO retail system.

On December $31,2025,$ the store management considers adopting the LIFO retail system and desires to know how the December $31,2025,$ inventory would appear under both systems. All pertinent data regarding purchases, sales, markups, and markdowns are shown below. There has been no change in the price level.

$\backslash$table$[[,$Cost,Retail$],[$Inventory$,$ Jan. $1,2025,$$$31,476,$$$51,600$