Question: Sandberg Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Sandbergs records. Instructions Calculate

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

Instructions
Calculate the index used for 2014 that yielded the aboveresults.

Price Index Ending Inventory at Base Prices Ending Inventory at Dollar-Value LIFO Date $23,000 24,250 $24,150 25,500 104 December 31, 2013 December 31, 2014

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