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Kramer Company values its inventory by using the retail method (LIFO basis, stable prices). The following information is available for the year 2012.
Cost Retail
Beginning inventory $ 78,000 $140,000
Purchases 368,000 628,000
Freight-in 16,000
Markups (net) - 18,000
Markdowns (net) - 6,000
Sales 610,000
At what amount would Kramer Company report its ending inventory?
a. $95,700.
b. $96,000.
c. $100,300.
d. $102,000.
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