Olson Company adopted the dollar-value LIFO method for inventory valuation at the beginning of 2015. The following information about the inventory at the end of each year is available from Olson's records:

Year	Current Costs	Index
2014	$50,000	100
2015	60,000	108
2016	70,000	115
2017	73,000	125
2018	78,000	135

Required:

1. Calculate the dollar-value LIFO inventory at the end of each year. Do not round your intermediate calculations. Round final answers to the nearest dollar.

2015

2016

2017

2018

Ending Inventory at LIFO

$

$

$

$

2. Prepare the appropriate disclosures for the 2018 annual report if Olson uses current cost internally and LIFO for financial reporting. Round final answers to the nearest dollar.

	2018	2017
Inventory at current cost	$	$
Less: LIFO reserve
Inventory at LIFO	$	$