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Blossom Company manufactures one product. On December 31, 2019, Blossom adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO
Blossom Company manufactures one product. On December 31, 2019, Blossom adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $900,000. Inventory data are as follows: Price index (base year 2019) 1.05 Year Inventory at year-end prices $1,228,500 1,844,600 1,900,000 2020 2021 1.15 2022 1.25 Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year. Inventory at December 31, 2020 $ Inventory at December 31, 2021 $ Inventory at December 31, 2022
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