Chapter 8, Problem 8.13P

Dollar-value LIFO

• LO8–8

On January 1, 2018, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $400,000. Inventory data for 2018 through 2020 are as follows:

Date	Ending Inventory at Year-End Costs	Cost Index
12/31/2018	$441,000	1.05
12/31/2019	487,200	1.12
12/31/2020	510,000	1.20

Required:

Calculate Taylor’s ending inventory for 2018, 2019, and 2020.