Madeline Sports Uses the Dollar-Value LIFO Retail Method What Is the Cost of the December 31, 2011, Inventory

Madeline Sports uses the dollar-value LIFO retail method.The price index on January 1, 2010, was 100, and on that date the inventory was $20, 000 (retail) and $14, 000 (cost) .Additional information follows: $\begin{array}{lll}&2010&2011\\\text { Purchases, retail } & \$ 160,000 & \$ 204,000 \\\text { Purchases, cost } & 115,200 & 150,960 \\\text { Sales } & 160,416 & 202,160 \\\text { Price index Dec. 31. } & 102 & 103\end{array}$ What is the cost of the December 31, 2011, inventory (to the nearest dollar) ?

A) $14, 610
B) $14, 638
C) $14, 660
D) $15, 854