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Belstock Company manufactures one product. On December 31, 2015, 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, 2015, Belstock adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $200,000. Inventory data for succeeding years are as follows:
YearInventory at Respective
Year-End Prices
Price Index
(Base Year 2015)
2016 $231,0001.05
2017   299,0001.15
2018   300,0001.20


Required:

Compute the ending inventory using the dollar-value LIFO method for 2016, 2017, and 2018. Do not round your intermediate calculations. If required, round your answers to the nearest dollar.

1.December 31, 2016$ 221,000
2.December 31, 2017$ 267,000
3.December 31, 2018

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