(Dollar-Value LIFO Retail) Presented below is information related to Atrium Corporation.
| Price Index | LIFO Cost | Retail |
Inventory on December 31, 2012, when dollar-value LIFO is adopted | 100 | $36,000 | $74,500 |
Inventory, December 31, 2013 | 110 | ? | 95,150 |
Instructions
Compute the ending inventory under the dollar-value LIFO method at December 31, 2013. The cost-toretail ratio for 2013 was 55%.
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