Cherokee Company uses dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:

Year ended December 31		Inventory at End-of-year Prices			Price Index
2019			$ 650,000			1.00
2020			1,255,000			1.05
2021			1,346,250			1.08

What is the 2021 inventory balance using dollar-value LIFO?

Group of answer choices

$1,277,892.85

$1,212,838.43

$1,346,250.17

$1,248,052.00