On January 1, 2021, the Coldstone Corporation adopted the LIFO retail inventory method. Beginning inventory at cost and at retail were $180,000 and $300,000, respectively. Suppose the retail values of inventory and the cost-to-retail percentages are as follows:

	Retail value of inventory		Cost-to-retail %
12/31/2021	$375,000	2021	65%
12/31/2022	$220,000	2022	66%

What is the cost of inventory balance that Coldstone would report in its 12/31/2022 balance sheet?

Multiple Choice

• $132,000.

• $126,450.

• $134,200.

• $145,200.