(Dollar Value LIFO Retail) Presented below is information related to Atrium Corporation.
|
|
Price Index |
LIFO Cost |
Retail |
|
Inventory on December 31, 2012, when dollar value LIFO is adopted |
100 |
$36,000 |
$74,500 |
|
Inventory, December 31, 2013 |
110 |
? |
95,150 |
Instructions
Compute the ending inventory under the dollar value LIFO method at December 31, 2013. The cost toretail ratio for 2013 was 55%.