Guerra, Inc Required:
Compute the Cost of the December 31, 2010, Inventory

Guerra, Inc.adopted the dollar-value LIFO retail inventory method on January 1, 2010, when the price index was 100.The following information was taken from company records on December 31, 2010, when the price index was 110.
$\begin{array}{lll}&\text { Cost}&\text { Retail}\\\text { Sales } & & \$ 190,000 \\\text { Additional markps } & & 18,000 \\\text { Markup cancellations } & & 6,000 \\\text { Markdowns } & & 8,000 \\\text { Markdown cancellations } & & 2,000 \\\text { Inventory, January 1 } & \$ 14,400 & 20,000 \\\text { Purchases } & 158,000 & 199,000 \\\text { Purchase returns } & 4,000 & 5,000\end{array}$ Required:
Compute the cost of the December 31, 2010, inventory.(Round off calculations to the nearest dollar.)