The following information is obtained from the records of the Burger Company, which uses the dollar-value LIFO retail method:

The company adopted LIFO on January 1, 2007, when the cost and retail values of the inventory were $50,000 and $100,000, respectively. The following price indexes were experienced by the Burger Company:
January 1, 2007 100 December 31, 2008 .......115
December 31, 2007 108 December 31, 2009 ....120
Required
Compute the cost of the ending inventory for 2007, 2008, and2009.

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2007 2008 2009 Cost $200,000 Retail $550,000 $240,000 Retail Cost Cost Retail $500,000 Purchases Net markups Net markdowns Sales $420,000 $250,000 20,000 10,000 400,000 30,000 40,000 600,000 10,000 20,000 450,000