Computing Ending Inventory using Dollar-Value LIFO On January 1 of Year 5 , Benn Company changed from FiFO to LIFO for income tax and external repocting purposes. At that tate, the beginning FifO inventory (the base invertory for UFO purpose) was $420,000. The following informawon is avalable from Benn's records for Year 5 tirough vear 8. equired Compute the ending imentery on a dolar-value Lifo basis for Vear 5, Year 6 , Year 7 , and Year 1