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ABC Corp. uses the dollar-value LIFO method of computing its inventory cost. Information for the...

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Accounting

ABC Corp. uses the dollar-value LIFO method of computing its inventory cost. Information for the past three years is presented below.

LIFO

Year ed Inventory at Price

December 31 End-of-year Prices Index

2017 $143,000 1.00

2018 277,200 1.05

2019 308,000 1.10

2020 312,000 1.20

What is the 2020 year-end inventory balance using dollar-value LIFO (do not type $) ?

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