10 LS Question 5 Problem #5 (9 %) Dollar Value LIFO Archer Company manufactures one product. On December 31, 2013, Archer adopted the dollar- value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $300,000. Inventory data are as follows: Inventory at Price index Year year-end prices (base year 2013) 2014 $530,000 1.07 2015 740,000 1.15 2016 790,000 1.25 Instructions Compute the inventory at December 31, 2014, 2015 and 2016, using the dollar-value LIFO method for each year, and note any years in which there was LIFO liquidation (circle or asterisk). HTML Editorpen B T U A A: I = = = = X = = Do? N VG TT: 12pt Y D Paragraph