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Metlock Company began operations late in 2 0 2 4 and adopted the conventional retail inventory method. Because there was no beginning inventory for 2

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Metlock Company began operations late in 2024 and adopted the conventional retail inventory method. Because there was no
beginning inventory for 2024 and no markdowns during 2024, the ending inventory for 2024 was $13,347 under both the
conventional retail method and the LIFO retail method. At the end of 2025, management wants to compare the results of applying the
conventional and LIFO retail methods. There was no change in the price level during 2025. The following data are available for
computations.
Compute the cost of the 2025 ending inventory under both:
(a) The conventional retail method.
Ending inventory using the conventional retail method $
(b) The LIFO retail method.
Ending inventory at cost $
Ending inventory at retail $
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