Eamest Incorporated adopted the dollar-value LIFO method last year. Last year's ending inventory was $53,700 with a prel inventory for the current year at year-end (FIFO) costs is $99,000 and the price index is 1.1 Based on this information, compute Earnest's ending inventory for the current year on a dollar-value LIFO basis. Compute Earnest's ending inventory for the current year on a dollar-value LIFO basis. (Use the price index amount to one decimal place as given the information, XX) Last year layer Current year layer Ending inventory under dollar-value LIFO Current year 53700