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

The answer is $330750. the option (b) is correct

Explanation:

Solution

Given that:

The Balance sheet for Cold stone report recorded on 12/31/2021:

                                                  Cost          Retail               Ratio

Beginning Inventory              $180,000    $278,250

Purchase                                $735,200    $907000

Net Markups                                               $12,000

Less: Net markdowns                                     $0

The cost of goods available

for sale                                    $915200      $1197250           76%

Less sales                                                     $866,500

Ending Inventory                                         $330750

Therefore the inventory balance for Cold stone is $330750

the most important factor in the

work process or industry is to retain the interest of the employee. and to

retain them, their salary or profit must be adjusted to the best value. unless

the employee does not do his job properly, employees must receive bonuses or

benefits to ensure them to stay in the company. it will actually make them stay

longer, make them feel important and reduce costs for hiring new employees.

explanation:

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