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On January 1, 2021, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost and at retail were $110,000 and $254,100, respectively. Net purchases during the year at cost and at retail were $754,400 and $935,000, respectively. Markups during the year were $8,000. There were no markdowns. Net sales for 2021 were $867,400. The retail price index at the end of 2021 was 1.05. What is the inventory balance that Coldstone would report in its 12/31/2021 balance sheet? (Do not round intermediate calculations.)

Multiple Choice

o $251,200.
o $329,700.
o $160,316.
o $263,760.

1 Answer

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It should be $160,316 sorry if it’s not right
User Jayy
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