Question $1$:

Presented below is information related to JP Company.

Date

Ending Inventory

$($End$$of$$Year Prices$)$ Price Index

December $31,$ Year $1$ $$180,000100$

December $31,$ Year $2220,500105$

December $31,$ Year $3218,500115$

December $31,$ Year $4242,500125$

December $31,$ Year $5283,500135$

December $31,$ Year $6310,800140$

Compute the ending inventory for JP Company for Year $1$ through Year $6$ using the dollar$$

value LIFO method. Please show your work, and for each ending inventory clearly specify the

layers.