Eller Company: Compute the inventory at December 31, 2007, 2008, 2009, using the dollar-value LIFO method for each year.
Eller Company manufactures one product. On December 31, 2006, Eller adopted the dollar-value-value LIFO inventory method. The inventory on that date using the dollar value LIFO inventory method was $250,000. Inventory data are as follows: Year Inventory at year-end prices price index (base year 2002)