Jennifer Inc. adopted dollar-value LIFO on December 31, 2012. Data for 2012-2015 follow: Inventory..

Jennifer Inc. adopted dollar-value LIFO on December 31, 2012. Data for 2012-2015 follow: Inventory and index on the adoption date, December 31, 2012: Dollar-value LIFO inventory . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . $250,000 Price index at year-end (the base year) . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1.00 Inventory information in succeeding years: 1. Compute the inventory value at December 31 of each year under the dollar-value method, assuming new layers are valued using the average price index. 2. Compute the inventory value at December 31, 2015, assuming that dollar-value procedures were adopted at December 31, 2013, rather than in 2012. The beginning layer is the December 31, 2013, balance.

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