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please inlcude the steps to the problem. Thank you. Grouper Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2019. At that time
please inlcude the steps to the problem. Thank you.
Grouper Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2019. At that time the inventory had a cost of $43,000 and a retail price of $100,000. The following information is available. 2019 2020 Year-End Current Year Year End Inventory at Retail Cost-Retail% Price Index $132,500 60% 106 143,000 63% 110 2021 132,240 64% 116 2022 162,500 61% 125 The price index at January 1, 2019, is 100 Compute the ending inventory at December 31 of the years 2019-2022. (Round ratios for computational purposes to decimal places, es. 78% and final answers to decimal places, eg 28,987) 2019 2020 2021 2022
please inlcude the steps to the problem. Thank you.
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