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On January 1, 2018, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information Cost Retail Beginning inventory Net

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On January 1, 2018, Sanderson Variety Store adopted the dollar-value LIFO retail inventory method. Accounting records provided the following information Cost Retail Beginning inventory Net purchases Net markups Net markdowns Net sales Retail price index, end of year $ 47,850 $87,000 192,390 365,000 7,000 9,000 342,000 1.04 During 2019, purchases at cost and retail were $239,000 and $478,000, respectively. Net markups, net markdowns, and net sales for the year were $6,000, $7,000, and $375,000, respectively. The retail price index at the end of 2019 was 1.05 Estimate ending inventory in 2019 using the dollar-value LIFO retail method. (Round your intermediate calculations to the nearest whole dollar. Round ratio calculation to the nearest whole percent.) Answer is complete but not entirely correct Ending vento $108,000

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