Without prejudice to your solution to part (a), assume that you computed the June 30, 2020, inventory to be $60,480 at retail and the ratio of cost to retail to be 68%. The general price level has increased from 100 at January 1, 2020, to 108 at June 30, 2020. Compute the June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method.

The June 30, 2020, inventory at the June 30 price level under the dollar-value LIFO retail method:

$65,318.40

Explanation:

a) Data and Calculations:

June 30, 2020 Inventory = $60,480 at retail

Ratio of cost to retail = 68%

Inventory at cost = $41,126.40 ($60,480 * 68%)

General price level increase from 100 to 108

Inventory at the June 30 price level under the dollar-value LIFO retail method:

Inventory at cost = $44,416.50 ($41,126.40 * 108/100)

Inventory at retail = $65,318.40 (44,416.50/68%)

the correct answer option is b. a single paragraph.

explanation:

when you are thinking about paragraph​ topics, you should always choose a subject that can be adequately addressed in a single paragraph.

a paragraph is a piece of writing consisting of a few sentences that deal with a single theme. it has only a single idea that the paragraph revolves around and talks about.

so a paragraph topic must be chosen wisely where a single idea can be communicated in a single paragraph.