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Dollar-Value LIFO Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the

Dollar-Value LIFO

Belstock Company manufactures one product. On December 31, 2018, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $400,000. Inventory data for succeeding years are as follows:

Year Inventory at Respective Year-End Prices Price Index (Base Year 2018)
2019 $441,000 1.05
2020 552,000 1.15
2021 564,000 1.20

Required:

Compute the ending inventory using the dollar-value LIFO method for 2019, 2020, and 2021. Do not round your intermediate calculations. If required, round your answers to the nearest dollar.

December 31, 2019 421000
December 31, 2020 490000
December 31, 2021

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