(Solution) - Dollar Value LIFO Retail You assembles the following information -(2025 Original AI-Free Solution)

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Dollar-Value LIFO Retail You assembles the following information for Dillon Department Store, which computes its inventory under the dollar-value LIFO method.
Cost Retail
Inventory on January 1, 2010 $222,000 $300,000
Purchases 364,800 480,000
Increase in price level for year 9%Compute the cost of the inventory on December 31, 2010, assuming that the inventory at retail is
(a) $294,300 and
(b) $359,700