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Retail 190,000 Sales Sales Dollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the
Retail 190,000 Sales Sales Dollar-Value LIFO Retail Intella Inc. adopted the dollar-value retail LIFO method on January 1, 2018. The following data apply to the 4 subsequent years: Cost Retail Cost 2018 Inventory, January 1 $40,000 $80,000 2020 Purchases $117,600 $280,000 Purchases 85,500 260,000 200,000 2021 Purchases 147,200 320,000 2019 Purchases 92,000 230,000 Sales 300,000 210,000 >> In addition, the following price indexes are available: January 1, 2018 100 December 31, 2020 December 31, 2018 105 December 31, 2021 December 31, 2019 110 Required: Compute the inventory at the end of each of the 4 years. Round the cost-to-retail ratio to 3 decimal places and the final answers to the nearest dollar. Sales 120 125 2018 33,333 $ 2019 39,999 2020 44,963 $ 2021 54,054 x Ending inventory
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