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On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value...

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Accounting

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On January 1, 2021, Avondale Lumber adopted the dollar-value LIFO inventory method. The inventory value for its one inventory pool on this date was $290.000. 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 Tavstory Coat Index December 31 Year-End Costa (Relative to Base Tear) 2021 $372,300 1.02 2022 2023 303,720 435,490 1.01 2024 466,950 Required: Calculate inventory amounts at the end of each year. (Round intermediate calculations and final answers to the nearest whole dollars.) Inventory Layers Converted to Base Your Cout Inventory OVL Cost Inventory at Year-End Year End Cost Cost Index Date Inventory Layers Base Year Cost Inventory Layers Converted to Cost Inventory Year-End Inventory Layers a base Cost Year Cost Index Converted to Cost 5 0 01/01/2021 12/31/2021 2021 S 12/01/2022 Base 2021 2022 $ 12/31/2023 Base 2021 2022 2023 0 12/01/2004 Base 2022 2023 2024

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