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On December 31, 2020, Greg Co. adopted the dollar-value LIFO retail inventory method. Inventory LIFO Cost $900,000 ? Inventory, 12/31/20 Inventory, 12/31/21 Increase in price

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On December 31, 2020, Greg Co. adopted the dollar-value LIFO retail inventory method. Inventory LIFO Cost $900,000 ? Inventory, 12/31/20 Inventory, 12/31/21 Increase in price level for 2021 Cost to retail ratio for 2021 Retail $1,260,000 1,650,000 20% 70% Under the LIFO retail method, Greg's inventory at December 31, 2021, should be $1,155,500. O $900,300. $996,600. $1,084,800

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