Task#2 (Dollar-Value LIFO) Presented below is information related to ABC Company Ending Inventory Price Index 100 105 115 125 Date December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 $180,000 220,500 218,500 242,500 Instructions fomente the ending inventory for ABC Company for 2014 through 2017 using the dollar-value LUFo method. B. Present the Balance Sheet and Journal Entry for each year. Inventory at End-of-Year Inventory at Base-Year Base $Value LIFO LIFO LIFO Reserve Effect Prices Index Prices Index TOTAL Balance Sheet Inventory Allowance to Reduce Inventory to LIFO 2014 2015 2016 2012 Journal Entry Page 8