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On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The Inventory value for its one Inventory pool on this date was $370,000.
On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The Inventory value for its one Inventory pool on this date was $370,000. Inventory data for 2021 through 2023 are as follows: Ending Inventory Date at Year-End Costs 12/31/2021 $417,300 12/31/2022 469,800 12/31/2023 493,750 Cost Index 1.07 1.16 1.25 Required: Calculate Taylor's ending Inventory for 2021, 2022 and 2023 Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVL Cost Date Inventory at Year-End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost 01/01/2021 = Base = 12/31/2021 Base 2021 12/31/2022 Base 2021 2022 12/31/2023 Base 2021 2022 2023
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