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LUC RECOT Inventory, 1/1/20 $ 380,000 $600,000 Net purchases 1,219,240 1,861,000 Net markups 107,000 Net markdowns 175,000 Net sales 1,590,000 Blackwell Company, which uses the

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LUC RECOT Inventory, 1/1/20 $ 380,000 $600,000 Net purchases 1,219,240 1,861,000 Net markups 107,000 Net markdowns 175,000 Net sales 1,590,000 Blackwell Company, which uses the LIFO retail method to determine inventory cost, has provided the above information for 2020. Use this information to answer Questions 18 through 20. Question 19 4 pts Assuming stable prices (no change in the price index during 2020), what is the cost of Blackwell's inventory at December 31, 2020? (Round the cost-to-retail ratio to 4 decimal places, eg. 0.1234 and final answers to decimal places, e.g. 6,521.) Question 20 4 pts Use the same information provided above regarding Blackwell. Now instead assume that the price index was 106 at December 31, 2020 and 100 at January 1, 2020, what is the cost of Blackwell's inventory at December 31, 2020 under the dollar-value-LIFO retail method

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