Bob's Repair Shop began operations on January 1, 2008. After discussing the matter with his accountant, Bob decided dollar-value LIFO should be used for inventory costing. Information concerning the inventory of Bob's Repair Shop is shown below.
____________________________________________Inventory at
Date..........................................................Year-End Prices.............Year-End Index
Dec. 31, 2008 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $32,400..............1.00
Dec. 31, 2009 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 43,100...............1.16
Dec. 31, 2010 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 61,300................1.34
Dec. 31, 2011 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 52,900................1.20
Dec. 31, 2012 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 79,700................1.68
Dec. 31, 2013 . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 70,800................2.10
Instructions: Compute the inventory value at December 31 of each year under the dollar value LIFO inventory method, assuming incremental layers are valued using the year-end price index.