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Compute the ending inventory under the dollar-value lifo

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Question

Presented below is information related to Shamrock Corporation.
Price Index LIFO Cost Retail

Inventory on December 31, 2017, when dollar-value LIFO is adopted 100 $36,600 $69,100

Inventory, December 31, 2018 110 ? 95,260

Compute the ending inventory under the dollar-value LIFO method at December 31, 2018. The cost-to-retail ratio for 2018 was 60%.

Ending inventory under the dollar-value LIFO method at December 31, 2018

Reference no: EM132315492

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