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Question 1 Your answer is incorrect. Try again. Teal Corporation adopted the dollar-value LIFO retail inventory method on January 1, 2016. At that time the inventory had a cost of 57,000 and a retail price of $100,000. The following information is available Year-End Inventory at Retail 2016 2017 2018 2019 $121,980 137,500 116,280 167,500 Current Year cost-Retail % 58% 61% 62% 59% Year End Price Index 107 110 114 125 The price index at January 1, 2016, is 100. Compute the ending inventory at December 31 of the years 2016-2019. (Round ratios for computational purposes to O decimal places, e.g 78% and final answers to 0 decimal places, e.g. 28,987.) 2016 2017 2018 2019 Ending inventory 82901 Click if you would like to Show Work for this question: Open Show Work