Kelcie Sports uses the dollar-value LIFO retail method. The price index on January 1, 2016, was 100, and on that date the inventory was $20,000 retail) and $14,000 cost). Additional information follows:
What is the cost of the December 31, 2017, inventory to the nearest dollar)?

Question

Kelcie Sports uses the dollar-value LIFO retail method. The price index on January 1, 2016, was 100, and on that date the inventory was $20,000 retail) and $14,000 cost). Additional information follows: 
 What is the cost of the December 31, 2017, inventory to the nearest dollar)?

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The Answer of Kelcie Sports uses the dollar-value LIFO retail method. The price index on January 1, 2016, was 100, and on that date the inventory was $20,000 retail) and $14,000 cost). Additional information follows: 
 What is the cost of the December 31, 2017, inventory to the nearest dollar)?

Kelcie Sports Uses the Dollar-Value LIFO Retail Method