Problem 8-14 (Algo) Dollar-value LIFO [LO8-8] Kingston Company uses the dollar-value LIFO method of computing inventory. An external price index is used to convert ending inventory to base year. The company began operations on January 1, 2021, with an inventory of $174,000. Year-end inventories at year- end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 2021 2022 2023 2024 Ending Inventory at Year-End Costs $252,000 326,040 306,360 304,950 Cost Index (Relative to Base Year) 1.05 1.14 1.11 1.07 Required: Calculate inventory amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole dollars.) Required: Calculate inventory amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole dollars.) * Answer is not complete. 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 1.00 Inventory Layers at Base Year Cost $ 174,000 Base $ 240,000 Base 2021 Inventory Layers at Base Year Cost $ 174,000 $ 174,000 $ 66,000 Year- End Cost Index 1.00 1.00 1.05 Inventory Layers Converted to Cost $ 174,000 $ $ 174,000 $ 69,300 $ 01/01/2021 = = 174,000 $ 174,000 $ 252,000 12/31/2021 1.05 = 243,300 12/31/2022 $ 326,000 X 1.14 = $ 1$ $ 285,365 X Base 2021 2022 174,000 66,000 45,965 X 1.00 1.05 $ 1$ 174,000 69,300 52,400 X $ $ $ 1.14 = $ 295,700 12/31/2023 $ 306,360 1.11 o = $ 276,000 Base $ = $ 2021 $ $ OOO $ 174,000 66,000 36,000 174,000 X 1.00 1.05 x 1.14 1.00 174,000 69,300 41,040 174,000 $ = $ 2022 2023 XO $ x = 1$ 458,340 12/31/2024 $ 304.950 1.07 = $ 69,300 $ $ 66,000 X 36,000 X $ 285,000 Base 2021 2022 2023 1.05 X = 1.00 X = 1.05 1.05 X = x x 1.14 X = 1.07 2024 $ 69,300