Culver Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that...
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Culver Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2024. At that time the inventory had a cost of $51,000 and a retail price of $100,000. The following information is available.
Year-EndInventory at Retail
Current YearCostRetail %
Year-EndPrice Index
2024
$122,430
60%
105
2025
135,520
63%
112
2026
127,650
64%
115
2027
172,500
62%
125
The price index at January 1, 2024, is 100. Compute the ending inventory at December 31 of the years 20242027. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.)
2024
2025
2026
2027
Ending inventory
$
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