Cullumber Company has a beginning inventory in year one of $1,375,000 and an ending inventory of $1,672,000. The price level has increased from 100 at the beginning of the year to 110 at the end of year one. Calculate the ending inventory under the dollar-value LIFO method.

Ending inventory

$

1534500

(b)

At the end of year two, Cullumber's inventory is $1,886,000 in terms of a price level of 115 which exists at the end of year two. Calculate the inventory at the end of year two continuing the use of the dollar-value LIFO method.