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Question 3 You assemble the following information for Pearl Department Store, which computes its inventory...

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Question 3 You assemble the following information for Pearl Department Store, which computes its inventory under the dollar- value LIFO method Cost Retail Inventory on January 1, 2017 Purchases $231,344$304,400 479,000 990 383,200 Increase in price level for year Compute the cost of the inventory on December 31, 2017, assuming that the inventory at retail is (a) $298,900 and (b) $366,785. (Round ratios for computational purposes to 0 decimal places, e.g. 78% and final answers to O decimal places, e.g. 28,987.) (a) Cost of the inventory on December 31, 2017 (b) Cost of the inventory on December 31, 2017$

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