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Ivanhoe Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of $59,000 and a

Ivanhoe Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of $59,000 and a retail price of $100,000. The following information is available.

Year-End Current Year Year End Inventory at Retail CostRetail % Price Index

2016 $117,660 57% 106

2017 $148,500 60% 110

2018 $120,750 61% 115

2019 $176,400 58% 126

The price index at January 1, 2016, is 100.

Compute the ending inventory at December 31 of the years 20162019.

2016 2017 2018 2019

Ending Inventory: $ $ $ $

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