Dollar Value LIFO, LIFO Reserve. Total Color, Inc. manufactures and distributes house paints. Total Color uses the dollar-value LIFO method. Information for 2014,2015, and 2016 is presented in the following table. Year 2014 Base Year 2015 2016 Inventory - FIFO $356,000 $379,700 414,000 The cumulative price indices for 2014,2015, and 2016 respectively are 1.0000, 1.0230, and 1.0537 Required a. Compute the company's ending inventory using dollar-value LIFO for each year, Round to the nearest b. Prepare the journal entry required to adjust the LIFO reserve for each year