Question: Willy World uses dollar-value LIFO method of computing its inventory cost. Data for the past 3 years is as follows: Year ended Inventory at Price

Willy World uses dollar-value LIFO method of computing its inventory cost. Data for the past 3 years is as follows:

Year ended Inventory at Price

December 31 End-of-year Prices Index

2016 $ 390,000 1.00

2017 756,000 1.05

2018 810,000 1.10

What is the 2018 inventory balance using dollar-value LIFO? Please show your calculation.

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