In be on january 1 2013 sanderson variety store adopted the

Question

This exercise is a continuation of BE.
In BE, On January 1, 2013, Sanderson Variety Store adopted the dollar value LIFO retail inventory method. Accounting records provided the following information:

During 2014, purchases at cost and retail were $168,000 and $301,000, respectively. Net markups, net markdowns, and net sales for the year were $3,000, $4,000, and $280,000, respectively. The retail price index at the end of 2014 was 1.06. Calculate the inventory value at the end of 2014 using the dollar value LIFO retailmethod.