Exercise 9-29

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Concord Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of $53,000 and a retail price of $100,000. The following information is available.

		Year-End Inventory at Retail			Current Year CostRetail %		Year End Price Index
2016		$130,540			53%		107
2017		144,300			56%		111
2018		125,400			57%		114
2019		167,500			54%		125

The price index at January 1, 2016, is 100. Compute the ending inventory at December 31 of the years 20162019. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to 0 decimal places, e.g. 28,987.)

		2016		2017		2018		2019
Ending inventory		$		$		$		$