You assemble the following information for Blue Department Store, which computes its inventory under the dollar-value LIFO method.

		Cost		Retail
Inventory on January 1, 2017		$234,312		$300,400
Purchases		396,224		483,200
Increase in price level for year				8%

Compute the cost of the inventory on December 31, 2017, assuming that the inventory at retail is (a) $293,400 and (b) $365,364.