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Computing an internal price index

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Question - Waterway Company adopted the dollar-value LIFO method on January 1, 2017 (using internal price indexes and multiple pools). The following data are available for inventory pool A for the 2 years following adoption of LIFO.

Inventory At Base-Year At Current-Year

cost Cost

1/1/17 $193,700 $193,700

12/31/17 240,800 288,960

12/31/18 275,300 338,619

Computing an internal price index and using the dollar-value LIFO method, at what amount should the inventory be reported at December 31, 2018?

Price Index____________________

Dollar-value LIFO inventory$_____________

Reference no: EM131702020

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