(Answered) On january 1 2016 the national furniture company adopted

Accounting

On January 1, 2016, the National Furniture Company adopted the dollar-value LIFO method of computing inventory. An internal cost index is used to convert ending inventory to base year. Inventory on January 1 was $204,000. Year-end inventories at year-end costs and cost indexes for its one inventory pool were as follows:

Year Ended December 31	Inventory at Year-end Costs	Cost Index (Relative to Base Year)
2016	$267,840	1.08
2017	310,240	1.12
2018	312,800	1.15

Required: Compute inventory amounts at the end of each year.

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