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Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO
Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $300,000. Inventory data for succeeding years are as follows: Inventory at Respective Price Index Year Year-End Prices (Base Year 2018) 2019 $336,000 1.05 2020 425,500 1.15 2021 420,000 1.20 Required: Compute the ending inventory using the dollar-value LIFO method for 2019, 2020, and 2021. Do not round your intermediate calculations. If required, round your answers to the nearest dollar. December 31, 2019 $ 321,200 X December 31, 2020 December 31, 2021
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