Sheridan Company adopted the dollar-value LIFO inventory method on December 31, 2020. Sheridan's entire inventory constitutes a single pool. On December 31, 2020, the inventory was $962000 under the dollar-value LIFO method. Inventory data for 2021 are as follows:

12/31/21 inventory at year-end prices

$1310000

Relevant price index at year end (base year 2020)108

Using dollar value LIFO, Sheridan's inventory at December 31, 2021 is