Homework Chapter 9 Part 3 Send to Gradebook Question 1 Your answer is incorrect. You assemble the following information for Sunland Department Store, which computes its inventory under the dollar- value LIFO method. CostRetail Inventory on January 1,2017 $220,533 $302,100 Purchases Increase in price level for year 366,928 482,800 9% Compute the cost of the inventory on December 31, 2017, assuming that the inventory at retail is (a) $297,200 and (b) 28,987) (a) Cost of the inventory on December 31, 2017$ (b) Cost of the inventory on December 31, 2017 . $362207. (Round ratios for computational purposes to 0 decimal places, eg 78% and final answers to O decimal places, eg Attempts: 1 of 5 used Check Answer Send to Gradebook * Previous Next