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Dollar value lifo retail you assembles the following

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1. Dollar-Value LIFO Retail You assembles the following information for Dillon Department Store, which computes its inventory under the dollar-value LIFO method.Cost RetailInventory on January 1, 2010 $222,000 $300,000Purchases 364,800 480,000

Increase in price level for year 9%Compute the cost of the inventory on December 31, 2010, assuming that the inventory at retail is

(a) $294,300 and

(b) $359,700 

Reference no: EM131117577

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