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Harlequin Co. has used the dollar-value LIFO retail method since it began operations in early 2020...

Harlequin Co. has used the dollar-value LIFO retail method since it began operations in early 2020 (its base year). Its beginning inventory for 2021 was $42,000 at cost and $78,000 at retail prices. At the end of 2021, it computed its estimated ending inventory at retail to be $132,000. Assuming its cost-to-retail percentage for 2021 transactions was 60%, what is the inventory balance that Harlequin Co. would report in its 12/31/2021 balance sheet?

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