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Bragg adopted the dollar-value LIFO retail inventory method on January 1, 2016. The following information for...

Bragg adopted the dollar-value LIFO retail inventory method on January 1, 2016. The following information for 2016 was taken from the company's records:

Cost

Retail

Sales

$189,000

Net markups

6,000

Inventory, January 1, 2016

$ 21,000

30,000

Purchases

147,000

200,000

Net markdowns

10,700

The price index on January 1, 2016, was 100. On December 31, 2016, it was 110. Round cost/retail percentages to the nearest whole percent if necessary.

Required:

Compute the inventory value for December 31, 2016.

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