Best Stores is considering a change in its inventory valuation method. The company currently uses the FIFO method and may want to change to the LIFO method. Inventory information for the current year is presented below.

Cost of goods sold under the LIFO basis is $ 34,500 for the current year. Best Stores would like to use LIFO for tax purposes but wants to be sure that its shareholders will be able to convert the LIFO financial statements to a FIFO basis. Provide Best Stores with an illustration of how financial statement users can convert LIFO to the FIFO basis.

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Description Beginning inventory: January 1 Ending inventory December 31 RFO Cost LIFO Cost $11.900 $9600 $14100 $11.150