37. Dollar-value LIFO

Belstock company manufactures one product. On December 31, 2015, Belstock adopted the dollar value LIFO inventory method. The inventory on that date using the dollar value LIFO inventory method was $400,000. Inventory data for succeeding years are as follows:

Year. Inventory at respective year end prices. Price index (base year 2015)

2016. $430,500. 1.05

2017. $540,500. 1.15

2018. $540,000. 1.20

Required:

Compute the ending inventory using the dollar value LIFO method for 2016, 2017, and 2018. Do not round your intermediate calculations. If required, round your answers to the nearest dollar

1. December 31, 2016. ________________

2. December 31, 2017. _________________

3. December 31, 2018. __________________