Dock Inc. adopted the dollar-value LIFO inventory method as of January 1, 2015. A single inventory pool and an internally computed price index are used to compute Brock's LIFO inventory layers. Information about Dock's dollar value inventory follows:
|
Inventory
|
|
Date
|
At base cost
Year cost
|
At current
Year cost
|
At dollar
Value LIFO
|
|
1/1/2015
|
$60,000
|
$ 60,000
|
$60,000
|
|
20154 layer
|
7,500
|
21,000
|
9,000
|
|
12/31/2015
|
67,500
|
81,000
|
69,000
|
|
2016 layer
|
22,500
|
39,000
|
?
|
|
12/31/2016
|
$90,000
|
$120,000
|
?
|
Required: What is Dock's dollar value LIFO inventory at December 31, 2016?