Exercise 9-27

Connie Chung Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2013. At that time the inventory had a cost of $58,000 and a retail price of $100,000. The following information is available.

		Year-End Inventory at Retail			Current Year CostRetail %		Year End Price Index
2013		$121,900			55%		106
2014		142,240			57%		112
2015		129,870			59%		117
2016		163,750			54%		125

The price index at January 1, 2013, is 100. Compute the ending inventory at December 31 of the years 20132016. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987)