Cullumber, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 Inventory at Current-Year Cost Price Index 2016 $18,000 100 2017 20,009 107 2018 23,296 112 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method.

Brief Exercise 8-9 Cullumber, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 Inventory at Current-Year Cost Price Index 2016 $18,000 100 2017 20,009 107 2018 23,296 112 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method. 2017 2018 Inventory under LIFO $ Click if you would like to Show Work for this question: Open Show Work