Please assist me with this question. Requirements a and b are both a part of this question. Thank you.

The cumulative price indices for 2018, 2019, and 2020 respectively are 1.0000, 1.0160, and 1.0485. Color Wheel, Inc. manufactures and distributes house paints. Color Wheel uses the dollar-value LIFO method. Information for 2018, 2019, and 2020 is presented in the following table. (Click the icon to view the data.) Read the requirements. Requirement a. Compute the company's ending inventory using dollar-value LIFO for each year. Round to the nearest dollar. (Use price index amounts to four decimal places as given in the information, X.XXXX. Round all interim currency calculations and the amounts you enter into the cells below to the nearest whole dollar.) Year 2018 2019 2020 2018 layer 2019 layer 2020 layer Ending inventory under dollar-value LIFO Data table Year Inventory - FIFO 2018 - Base year $ 320,000 2019 $ 402,000 2020 420,000 - Requirements a. Compute the company's ending inventory using dollar-value LIFO for each year. Round to the nearest dollar. b. Prepare the journal entry required to adjust the LIFO reserve for each year