Business, 08.07.2020 02:01 genyjoannerubiera

On January 1, 2021, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost and at retail were $180,000 and $278,250, respectively. Net purchases during the year at cost and at retail were $735,200 and $907000, respectively. Markups during the year were $12,000. There were no markdowns. Net sales for 2021 were $866,500. 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) a. $252,000
b. $330,750
c. $210,870
d. $264,600

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On January 1, 2021, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method....

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