The dollar-value LIFO method was adopted by Bonita Corp. on January 1, 2020. Its inventory on that date was $245,500. On December 31, 2020, the inventory at prices existing on that date amounted to $224,000. The price level at January 1, 2020, was 100, and the price level at December 31, 2020, was 112.

compute amount of inventory under lifo and fifo