A wholly owned subsidiary of J & J Products implemented Dollar Value LIFO inventory valuation in 2010, when their ending inventory was $650,000. The following are the inventory amounts for an ingredient used in packaging for years 2011 2015. The price index has been increasing by 5% each year 2011 through 2015.

Inventory at End of Year Prices Year for example 497 1.05 = 548163 200 x1.05 522060 then 522060 x 2011 2012 2013 2014 2015 $497.200 $595,800 $605,200 $656,500 $701,800 Calculate the ending inventory for years 2011 - 2015 using Dollar Value LIFO