Sparky Company adopted Dollar Value LIFO (DVL) on January 1, 20X1 for its one inventory pool. The inventory's value on this date was $360,000. The ending inventory valued at year-end costs for 20X1, 20X2 and 20X3 are reported below along with the price index for each year: Year Ending Inventory at Year-end Costs Specific Price Index Dec 31, 20X1 $407,570 106 Dec 31, 20X2 $439,450 110 Dec 31, 20X3 $427,800 115

a. Determine the Ending Inventory value to be reported on Sparky's balance sheet dated December 31, 20X3 using DVL (LIFO):

b. If Sparky purchased $1,250,000 of goods held in inventory for 20X3, determine COGS for the year ended December 31, 20X3 using Dollar Value LIFO: