Adell Co.uses the dollar-value LIFO retail method.The beginning inventory, purchased when the price index was 100, had a retail value of $4, 000 and a cost of $3, 600.During the period, purchases amounted to $60, 000 at retail ($52, 800 at cost).Sales amounted to $56, 300.The year-end price index was 110.What is the cost of ending inventory?

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The Answer of Adell Co.uses the dollar-value LIFO retail method.The beginning inventory, purchased when the price index was 100, had a retail value of $4, 000 and a cost of $3, 600.During the period, purchases amounted to $60, 000 at retail ($52, 800 at cost).Sales amounted to $56, 300.The year-end price index was 110.What is the cost of ending inventory?

Adell CoUses the Dollar-Value LIFO Retail Method