Question: Crane, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow. Year Ended December 31 Inventory at Current-Year

Crane, Inc. uses the dollar-value LIFO method of computing its inventory. Data for the past 3 years follow.

Year Ended

December 31

Inventory at

Current-Year Cost

Price

Index

2016$21,300100201723,320106201827,840116

Compute the value of the 2017 and 2018 inventories using the dollar-value LIFO method.

20172018Inventory under LIFO$

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