Presented below is information related to Langston Hughes Corporation.\nPrice\nIndex\nLIFO\nCost Retail\nInventory on December 31, 2014, when dollar-value
Presented below is information related to Langston Hughes Corporation.
\r\nPrice
\r\nIndex
\r\nLIFO
\r\nCost Retail
\r\nInventory on December 31, 2014, when dollar-value LIFO is adopted 100 $36,000 $ 74,500
\r\nInventory, December 31, 2015 110 ? 100,100
\r\nInstructions
\r\nCompute the ending inventory under the dollar-value LIFO method at December 31, 2015. The cost-toretail ratio for 2015 was 60%.