Question: Having some trouble, please Explain your answer thanks. On January 1, 2021, the Taylor Company adopted the dollar-value LIFO method. The inventory value for its

Having some trouble, please Explain your answer thanks.

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 $310,000. Inventory data for 2021 through 2023 are as follows:

Date	Ending Inventory at Year-End Costs		Cost Index
12/31/2021	$	339,900	1.03
12/31/2022		382,950	1.11
12/31/2023		398,650	1.19

Required: Calculate Taylor's ending inventory for 2021, 2022, and 2023.

Inventory Layers Converted to Base Year Cost

Inventory Layers Converted to Cost

Inventory DVL Cost

Date

Inventory at Year-End Cost

Year-End Cost Index

Inventory Layers at Base Year Cost

Year-End Cost Index

Inventory Layers Converted to Cost

01/01/2021

Base

12/31/2021

Base

2021

12/31/2022

Base

2021

2022

12/31/2023

Base

2021

2022

2023

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