Question: Tree Corp. uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows: Year ended Inventory at

Tree Corp. uses the dollar-value LIFO method of computing its inventory cost. Data for the past three years is as follows:

Year ended Inventory at Price

December 31. End-of-year Prices Index

2016 $619,040 1.00

2017 1,260,000 1.05

2018 1,350,250 1.10

What is the 2016 inventory balance using dollar-value LIFO?

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