LO.6 Amber Company has used the dollar-value LIFO technique for the past three years. The company has only one inventory pool. Its beginning inventory for the current year was computed as follows:

Base Period Cost LIFO Index LIFO Layer Base period inventory $1,400,000 1.00 $1,400,000 Year 1 layer 200,000 1.03 206,000 Year 2 layer 400,000 1.05 420,000

$2,000,000 $2,026,000 The current-year ending inventory at current prices is $2,226,000, and the LIFO index is 1.06. Determine the company’s LIFO inventory as of the end of the current year.