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Plank Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 156,000 $244.000 Purchases 590,000
Plank Co. uses the retail inventory method. The following information is available for the current year. Cost Retail Beginning inventory $ 156,000 $244.000 Purchases 590,000 830,000 Freight-in 10,000 Employee discounts 4,000 Net markups 30,000 Net Markdowns 40,000 Sales 780,000 49129. Assuming that the LIFO inventory method is used that the beginning inventory is the base inventory when the index was 100, and that the index at year end is 112, the ending inventory at dollar-value LIFO retail cost is a. $160,920. b. $185,514. C. $191,800. d. $204,960. alabalandhailand on which it in
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