Brief Exercise 8-14 (Algo) Dollar-value LIFO (LO8-8] At the beginning of 2021, a company adopts the dollar-value LIFO inventory method for its one inventory pool. The pool's value on that date was $1,160,000. The 2021 ending inventory valued at year-end costs was $1,566,000 and the year-end cost index was 1.08. Calculate the inventory value at the end of 2021 using the dollar-value LIFO method. Inventory Layers converted to Base Year Cost Inventory Layers converted to Cost Inventory DVL Cost Date Inventory at year-end cost Year-end cost index Year-end cost index Inventory Layers Converted to Cost Inventory Inventory Layers at Layers at Base Base Year Year Cost Cost $ 1,160,000 Base $ 1,160,000 $ 1,450,000 Base 2021 x 01/01/2021 12/31/2021 $ $ 1,160,000 1,566,000 = = 1.00 1.08 =