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Question 2 Novak, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow Year Ended December 31 2016

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Question 2 Novak, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow Year Ended December 31 2016 2017 2018 Inventory at Current-Year Cost Index 18,000 100 20,009 107 23,296 112 Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method. 2017 2018 Inventory under LIFO

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