Question

Computing an internal price index and using the dollar-value lifo method, at what amount should the inventory in pool a be reported at december 31, 2018?

Answer 1

The computed internal price index using the dollar value LIFO method is $ 122 with decimal places on it, and the amount the inventory in pool a should be reported at December 31, 2018 is Dollar-value LIFO inventory $ 262780. So, at December 31, 2018 the price index is equal to $122 and inventory is $262780.