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Calculate the index used that yielded the results

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Reference no: EM131809914

Problem

Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis's records.

Date

Price
Index

Ending Inventory
at Base Prices

Ending Inventory
at Dollar-Value LIFO

December 31, 2014

105

$92,868

$93,150

December 31, 2015

?

97,868

98,700

Calculate the index used for 2015 that yielded the above results.

Reference no: EM131809914

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