C. Dollar-Value LIFO Review ProblemDuring 2014, XYZ company decided to adopt the dollar-value LIFO method for externally reporting inventory. XYZ Company uses an external price index in its calculations. On December 31, 2014, XYZ Company had an inventory of $50,000. The following information has been extracted from XYZs inventory records:

Year Ended December 31, Ending Inventory at Year-End Costs, Cost Index(Relative to Base Year)

2015 $56,160 1.04

2016 $62,700 1.10

2017 $58,800 1.20

2018 $76,230 1.21

Required:

Compute XYZs ending inventory for each of the years ended December 31, 2014, 2015, 2016, 2017 and 2018.