Richardson Company cans a variety of vegetable-type soups. Recently, the company decided to value its inventories using dollar-value LIFO pools. The clerk who accounts for inventories does not understand how to value the inventory pools using this new method, so, as a private consultant, you have been asked to teach him how this new method works.
He has provided you with the following information about purchases made over a 6-year period.

You have already explained to him how this inventory method is maintained, but he would feel better about it if you were to leave him detailed instructions explaining how these calculations are done and why he needs to put all inventories at a base-year value.
Compute the ending inventory for Richardson Company for 2010 through 2015 using dollar-value LIFO.

Ending Inventory (End-of-Year Prices) Date Price Index Dec. 31, 2010 Dec. 31, 2011 $57,300 100 148,230 135 Dec. 31, 2012 145,992 154 Dec. 31, 2013 170,006 167 Dec. 31, 2014 204,480 180 Dec. 31, 2015 241,428 186