Question: Presented below is information related to Langston Hughes Corporation. Instructions Compute the ending inventory under the dollar-value LIFO method at December 31, 2015. The cost-to-retail

Presented below is information related to Langston Hughes Corporation.

Instructions
Compute the ending inventory under the dollar-value LIFO method at December 31, 2015. The cost-to-retail ratio for 2015 was60%.

Price Index LIFO Cost Retail Inventory on December 31, 2014, when dollar-value LIFO is adopted Inventory, December 31, 2015 100 110 $36,000 500 100,100

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