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Sunland Company manufactures one product. On December 31, 2019, Sunland adopted the dollar-value LIFO inventory...

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Accounting

Sunland Company manufactures one product. On December 31, 2019, Sunland adopted the dollar-value LIFO inventory method. The inventory on that date using the dollar-value LIFO inventory method was $990,000. Inventory data are as follows:

Year Inventory at year-end prices Price index (base year 2019)
2020 $1,253,700 1.05
2021 1,840,000 1.15
2022 1,950,000 1.25

Compute the inventory at December 31, 2020, 2021, and 2022, using the dollar-value LIFO method for each year.

Inventory at December 31, 2020 $
Inventory at December 31, 2021 $
Inventory at December 31, 2022 $

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