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Concord, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past...

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Accounting

Concord, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow.

Year Ended December 31

Inventory at Current-Year Cost

Price Index
2016 $19,900 100
2017 22,149 107
2018 26,335 115

Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method.

2017 2018
Inventory under LIFO

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