Business, 24.12.2020 15:50 bbygrl70

Item 12 On January 1, 2018, the Coldstone Corporation adopted the dollar-value LIFO retail inventory method. Beginning inventory at cost and at retail were $110,000 and $254,100, respectively. Net purchases during the year at cost and at retail were $754,400 and $935,000, respectively. Markups during the year were $8,000. There were no markdowns. Net sales for 2018 were $867,400. The retail price index at the end of 2018 was 1.05. What is the inventory balance that Coldstone would report in its 12/31/2018 balance sheet

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Item 12 On January 1, 2018, the Coldstone Corporation adopted the dollar-value LIFO retail inventory...

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