Problem 154 Klein Book Store uses the conventional retail method and is now considering converting to the LIFO retail method for the period beginning 1/1/18. Available information consists of the folowing 2017 2018 Cost Retail Cost Retail Inventory 1/ Purchases (net) $12,500 $22,500 $ 250,000347,500 245,000 345,000 10,000 5,000 322,000327.500 5,000 Net markups Net markdowns Sales (net) Loss from breakage 2,500 500 Apglicable price index 100 110