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On January 1, 2021, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pools value on this date was $680,000.

On January 1, 2021, the Haskins Company adopted the dollar-value LIFO method for its one inventory pool. The pools value on this date was $680,000. The 2021 and 2022 ending inventory valued at year-end costs were $715,000 and $783,000, respectively. The appropriate cost indexes are 1.04 for 2021 and 1.08 for 2022.

Find base 2021 and 2022 inventory layers at base year cost

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