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

Consider the following information. Beginning inventory at retail (base year) Ending inventory at retail $ 120,000 $ 168,000 Beginning cost-to-retail percentage 40% Current-year cost-to-retail percentage Retail price index for the year 45% 1.12 What is the estimate of ending inventory using the dollar-value LIFO retail method? Estimate of ending inventory $ 24,000

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