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On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The inventory value...

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Accounting

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On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its one inventory pool on this date was $360,000. Inventory data for 2021 through 2023 are as follows: Date 12/31/2021 12/31/2022 12/31/2023 Ending Inventory at Year-End Costs $391,400 454,250 477, 400 Cost Index 1.03 1.15 1.24 Required: Calculate Taylor's ending inventory for 2021 2022, and 2023. Inventory Layers Converted to Base Year Cost Inventory Layers Converted to Cost Inventory DVI. Cost Date Inventory at Year-End Cost Year-End Cost Index Inventory Layers at Base Year Cost Inventory Layers at Base Year Cost Year-End Cost Index Inventory Layers Converted to Cost 01/01/2021 12/31/2021 Base Base 2021 12/31/2022 Base 2021 2022 12/31/2023 Base 2021 2022 2023

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