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Compute inventory amounts at the end of each year

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On January 1, 2016, the National Furniture Company adopted the dollar-value LIFO method of computing inventory. An internal cost index is used to convert ending inventory to base year. Inventory on January 1 was $204,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:

Year Ended
December 31		 Inventory at
Year-end
Costs		 Cost Index
(Relative to
Base Year)
2016 $267,840 1.08
2017 310,240 1.12
2018 312,800 1.15

Required: Compute inventory amounts at the end of each year.

Reference no: EM131779022

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