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Dock Inc. adopted the dollar-value LIFO inventory method as of January 1, 2015. A single inventory pool and an internally computed price index are used to compute Brock's LIFO inventory layers. Information about Dock's dollar value inventory follows:
Inventory
Date
At base cost
Year cost
At current
At dollar
Value LIFO
1/1/2015
$60,000
$ 60,000
20154 layer
7,500
21,000
9,000
12/31/2015
67,500
81,000
69,000
2016 layer
22,500
39,000
?
12/31/2016
$90,000
$120,000
Required: What is Dock's dollar value LIFO inventory at December 31, 2016?
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