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Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of

Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of each year is available from Olson's records:

Year Current Costs Index
2014 $50,000 100
2015 60,000 108
2016 70,000 115
2017 73,000 125
2018 78,000 135

Required:

1. Calculate the dollar-value LIFO inventory at the end of each year. Do not round your intermediate calculations. Round final answers to the nearest dollar.

2015 2016 2017 2018
Ending Inventory at LIFO $ $ $ $
2018 2017
Inventory at current cost $ $
Less: LIFO reserve
Inventory at LIFO $ $

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