The information below is provided for the only two inventory items held by Hammond, Inc Base Jan 1, 2019 Dec 31, 2019 No of Cost per No of Cost per Item Units Unit Units Unit Tapes 300 $25 00 400 $30 00 Extenders 800 40 00 1,000 52 00 The company uses double extension dollar value LIFO with only one pool Required a Calculate the cost index for 2019 b Calculate the December 31, 2019 ending inventory for Hammond using dollar value LIFO

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Question: The information below is provided for the only two inventory items held by Hammond, Inc.: Base Jan. 1, 2019 Dec. 31, 2019 No. of Cost

The information below is provided for the only two inventory items held by Hammond, Inc.:

	Base
	Jan. 1, 2019	Dec. 31, 2019
	No. of	Cost per	No. of	Cost per
Item	Units	Unit	Units	Unit
Tapes	300	$25.00	400	$30.00
Extenders	800	40.00	1,000	52.00

The company uses double-extension dollar-value LIFO with only one pool. Required: a. Calculate the cost index for 2019. . b. Calculate the December 31, 2019 ending inventory for Hammond using dollar-value LIFO.

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