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Cullumber Company manufactures one product. On December 31, 2019, Cullumber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO
Cullumber Company manufactures one product. On December 31, 2019, Cullumber adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $1,080,000. Inventory data are as follows: Price index (base year 2019) Inventory at year-end prices Year $1,241,100 2020 1.05 2021 1.15 1,789,400 2022 1,925,000 1.25 Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year. Inventory at December 31, 2020 $ Inventory at December 31, 2021 $ Inventory at December 31, 2022 $
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