1. Conor Company manufactures one product. On December 31, 2019, Conor adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $800,000. Inventory data are as follows:

Inventory at Price index

Year year-end prices (base year 2019)

2020 $1,150,000 1.05

2021 1,140,000 1.10

2022 1,440,000 1.20

Required:

Compute the inventory at December 31, 2020, 2021 and 2022, using the dollar-value LIFO method for each year.