LOFTAN Company manufactures one product. On December 31, 2009, LOFTAN adopted the

dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO

inventory method was $180,000. Inventory data are as follows:

Inventory at Price index

Year year-end prices (base year 2009)

2010 $252,000 1.05

2011 368,000 1.15

2012 387,500 1.25

Instructions

Compute the inventory at December 31, 2010, 2011, and 2012, using the dollar-value LIFO method for

each year. EXPLAIN / CALCULATION