Stellar Corporation began operations on January 1, 2017, with a beginning inventory of $40,256 at cost and $50,300 at retail. The following information relates to 2017.

		Retail
Net purchases ($106,300 at cost)		$152,200
Net markups		9,900
Net markdowns		4,900
Sales revenue		124,400

1) Assume Stellar decided to adopt the conventional retail method. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 1 decimal place, e.g. 78.7% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory using the conventional retail method

2) Assume instead that Stellar decides to adopt the dollar-value LIFO retail method. The appropriate price indexes are 100 at January 1 and 110 at December 31. Compute the ending inventory to be reported in the balance sheet. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to 0 decimal places, e.g. 28,987.)

Ending inventory using the dollar-value LIFO retail method

3) On the basis of the information in part (b), compute cost of goods sold. (Round ratios for computational purposes to 2 decimal places, e.g. 78.72% and final answer to 0 decimal places, e.g. 28,987.)

Cost of goods sold using the dollar-value LIFO retail method