BE $9-11$

Dollar$-$value LIFO

retail

LO$9-5$

On January $1,2024,$ Select Variety Store adopted the dollar$-$value LIFO retail inventory method. Accounting

records provided the following information:

Estimate ending inventory using the dollar$-$value LIFO retail method and the information provided.

BE $9-12$

Dollar$-$value LIFO

retail

LO$9-5$

This exercise is a continuation of BE $9-11.$ During $2025($the following year$),$ purchases at cost and retail were

$$168,000$ and $$301,000,$ respectively. Net markups, net markdowns, and net sales for the year were $$3,000,$

$$4,000,$ and $$280,000,$ respectively. The retail price index at the end of $2025$ was $1\mathrm{.}06.$ Estimate ending inven$-$

tory in $2025$ using the dollar$-$value LIFO retail method and the information provided.