On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value...
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On January 1, 2016, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $305,000. An internally generated cost index is used to convert ending inventory to base year. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows: Year Ended December 31 Inventory Year-End Costs Cost Index (Relative to Base Year) 2016 $ 390,660 1.02 2017 402,800 1.06 2018 457,960 1.07 2019 491,700 1.10 Required: Calculate inventory amounts at the end of each year.
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