Do not give solution in image Blossom Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2020:Inventory, 1/1/20Net purchasesNet markupsNet markdownsNet sales$609524.$408691.$414525.Cost$480500.$2920001234000Retail$4300001786000Assuming that the price index was 105 at December 31, 2020 and 100 at January 1, 2020, what is the cost of Blossom's inventory at December 31, 2020 under the dollar-value-LIFO retail method? (Hint: Round intermediate calculation to 2 decimal places, e.g. 0.63 andfinal answer to 0 decimal places.)2140001000001690000

Name: Do not give solution in image Blossom Company, which uses the retail L
Uploaded: 2024-03-20T06:32:37.000Z
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Description: Do not give solution in image Blossom Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2020:Inventory, 1/1/20Net purchasesNet markupsNet markdownsNet sales$609524.$408691.$414525.Cost$

According to the question given, we need to compute the value of ending inventory under the Dollar…

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Blossom Company, which uses the retail LIFO method to determine inventory cost, has provided the following information for 2020: Inventory, 1/1/20 Net purchases Netmarkups Net markdowns Net sales $609524. $408691 $414525. Cost $480500. $292000 1234000 Retail $430000 1756000 Assuming that the price index was 105 at December 31, 2020 and 100 at January 1, 2020, what is the cost of Blossom's Inventory at December 31, 2020 under the dollar-value-LIFO retail method? (Hint: Round Intermediate calculation to 2 decimal places, e.g. 0.63 and Inal answer to 0 decimal places.) 214000 100000 1690000