16 points ABC, Corp. manufactures one product. On December 31, 2019, ABC, Corp. adopted the dollar-value...

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16 points ABC, Corp. manufactures one product. On December 31, 2019, ABC, Corp. adopted the dollar-value LIFO inventory method. Inventory data are as follows: Year Inventory at year-end prices 2019 2020 $900,000 $1,417,000 Price index 1.00 1.09 Compute the Inventory using the dollar-value LIFO method and compute the LIFO Reserve at December 31, 2020. The Inventory using the dollar-value LIFO method for ABC, Corp. at December 31, 2020 is $ choose your answer... and the LIFO Reserve is $ choose your answer... 16 points ABC, Corp. manufactures one product. On December 31, 2019, ABC, Corp. adopted the dollar-value LIFO inventory method. Inventory data are as follows: Year Inventory at year-end prices 2019 2020 $900,000 $1,417,000 Price index 1.00 1.09 Compute the Inventory using the dollar-value LIFO method and compute the LIFO Reserve at December 31, 2020. The Inventory using the dollar-value LIFO method for ABC, Corp. at December 31, 2020 is $ choose your answer... and the LIFO Reserve is $ choose your answer...