You assemble the following information for henderson

You assemble the following information for Henderson Department Store, which computes its inventory under the dollar-value LIFO method.

Cost Retail

Inventory on January 1, 2014 $420,000 $600,000

Purchases 720,000 960,000

Increase in price level for year 5%

Instructions

Compute the cost of the inventory on December 31, 2014, assuming that the inventory at retail is (a)

$619,500 and (b) $745,500.

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You assemble the following information for henderson : you assemble the following information for henderson department store which computes its inventory under the

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Miller corporation began operations on january 1 2014 with : miller corporation began operations on january 1 2014 with a beginning inventory of 10600 at cost and 14000 at retail.

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