Question: Consider the following information. Beginning inventory at retail (base year) $ 120,000 Ending inventory at retail $ 168,000 Beginning cost-to-retail percentage 40% Current-year cost-to-retail percentage

Consider the following information. Beginning inventory at retail (base year) $ 120,000 Ending inventory at retail $ 168,000 Beginning cost-to-retail percentage 40% Current-year cost-to-retail percentage 45% Retail price index for the year 1.12 What is the estimate of ending inventory using the dollar-value LIFO retail method?

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