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 $275,000. 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 |
$ |
364,350 |
|
1.05 |
|
| 2017 |
|
374,960 |
|
1.09 |
|
| 2018 |
|
424,600 |
|
1.10 |
|
| 2019 |
|
454,260 |
|
1.13 |
|
Required:
Calculate inventory amounts at the end of each year.