Business, 30.11.2021 20:10 1991987

You assemble the following information for Seneca Department Store, which computes its inventory under the dollar-value LIFO method. Cost Retail
Inventory on January 1, 2020 $216,000 $300,000
Purchases 364,800 480,000
Increase in price level for year 9%
Compute the cost of the inventory on December 31, 2020, assuming that the inventory at retail is (a) $294,300 and (b) $365,150.

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You assemble the following information for Seneca Department Store, which computes its inventory und...