Data below for the year ended December 31, 2018, relates to Houdini Inc., which began operations on January 1, 2018. The retail price index at the end of 2018 was 1.10.

	Cost					Retail
Beginning inventory	$	66,000					$	104,000
Net purchases		280,000						420,000
Net markups								20,000
Net markdowns								40,000
Net sales								375,000

Required: Calculate estimated ending inventory at cost assuming Houdini uses the Dollar-Value LIFO retail method.

		$83,500
		$76,220
		$75,112
		$82,091
		$75,291

Required: Calculate estimated ending inventory at cost assuming Houdini uses the LIFO retail method.

		$91,600
		None of the above
		$90,720
		$83,500