Gross Corporation adopted the dollar-value LIFO method of inventory valuation on Dec 31, 2019. Its inventory at that date was $110,000 and the relevant price index was 100. Information regarding inventory for subsequent years is as follows:

Date Inventory at Current Prices Current Price Index,

December 31, 2020 $128,400 107

December 31, 2021 145,000 125

December 31, 2022 162,500 130

1. What is the cost of ending inventory December 31, 2020 under Dollar-value LIFO method?

2. What is the cost of ending inventory December 31, 2021 under Dollar-value LIFO method?

3. What is the cost of ending inventory December 31, 2022 under Dollar-value LIFO method?

If possible please show method/formula used to reach the answer. Thanks