Dollar-Value LIFO Example Price Ending Inventory,. Date Index Current Prices 1.00 2018 $200,000 1.15 $299,000 2019 1.20 $300,000 2020 1.30 $351,000 2021 Steps in computing ending inventory: 1. Convert inventory to base year costs. 2. Identify the layers of ending inventory created each year. 3. Restate each layer using the cost index in the year acquired. EIBYC Price Ending Inventory Layers EICC Date EICC/Index Index 1.00 $200,000 2018 1.15 $299,000 2019 1.20 $300,000 2020 1.30 $351,000 2021 11 I Pags