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Kingbird Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of $57,000 and a
Kingbird Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of $57,000 and a retail price of $100,000. The following information is available. Year-End Inventory at Retail Current Year CostRetail % Year End Price Index 2016 $133,560 56% 106 2017 146,520 59% 111 2018 124,120 60% 116 2019 168,750 57% 125 The price index at January 1, 2016, is 100. Compute the ending inventory at December 31 of the years 20162019.
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