Question 3 Dollar-value LIFO (18 points) Lopez Company manufactures one product. On January 1, 2019, Lopez adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $200,000. Inventory data are as follows for 2019-2021: 4 Year Inventory at year-end prices Price index (base year 2018) 2019 $242,000 2020 252.000 2021 276,000 1.10 1.20 1.15 Instructions (1) Compute the inventory at December 31, 2019, 2020, and 2021 using the dollar-value LIFO method for each year. (9 points) (2) Fill in the following LIFO reserve T-account (3 points) Allowance to Reduce Inventory to LIFO (LIFO reserve)