Dollar-Value LIFO Retail Method On February 15, 2009, Rooker, MaDr.as & Associates compiled the

Dollar-Value LIFO Retail Method

On February 15, 2009, Rooker, MaDr.as & Associates compiled the following information concerning inventory for five years. They used the dollar-value LIFO retail inventory method.

 

Year-End

 

 

 

 

Price Index

Incremental

Incremental

 

Date

at Retail

Layer Index

Cost Percentage

Inventory

Dec 31, 2004                    

1.00

1.00

71%

$155,000

Dec 31, 2005                    

1.04

1.02

72

188,600

Dec 31, 2006                    

1.14

1.09

64

192,500

Dec 31, 2007                    

1.12

1.11

63

194,200

Dec 31, 2008                    

1.16

1.12

67

195,800

Compute the inventory cost at the end of each year under the dollar-value LIFO retail method. (Round all dollar amounts to the nearest dollar.)

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