Question: Dollar Value LIFO Problem: The following informatiori relates to the inventory of Initech Inc. Assume that Initech uses end-of-year prices for internal reporting of inventory.

Dollar Value LIFO Problem: The following informatiori relates to the inventory of Initech Inc. Assume that Initech uses end-of-year prices for internal reporting of inventory. Additionally, assume that in 2018, Initech started using Dollar-value LIFO for external reporting purposes Ending Inventory @ Price End-of-Year Prices Index Date December 31, 2018 $45,000 1.00 December 31, 2019 99,990 1.10 December 31, 2020 100,320 1.14 December 31, 2021 113,050 1.19 Use the dollar-value LIFO method to answer Questions 21 through 26. Enter all values without a "$" sign or commas, and round to the nearest dollar. Question 22 2 pts Compute Initech's 2018 ending inventory

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