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

Inventory on January 1, 2014: Cost=$205,250 Retail= 297,500

Purchases: Cost=384,418 Retail=526,600

Increase in price level for year Retail= 10%

Compute the cost of the inventory on December 31, 2014, assuming that the inventory at retail is (a) $304,500 and (b) $363,330. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.)