3. Chase Company manufactures one product. On December 31, 2017, Chase adopted the dollar- value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $1,000,000. Inventory data are as follows: Inventory at year-end prices Price index (base year 2016) Year 2018 2019 2020 $1,349,700 1,650,250 1,710,000 1.10 1.15 1.20 Required: Compute the inventory at December 31, 2018, 2019 and 2020, using the dollar-value LIFO method for each year