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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

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 $300,000. Inventory data for succeeding years are as follows:

Year Inventory at Respective Year-End Prices Price Index (Base Year 2015)
2016 $336,000 1.05
2017 425,500 1.15
2018 420,000 1.20

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 $
2. December 31, 2017 $
3. December 31, 2018 $

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