E8-20 (L04) (Dollar-Value LIFO) Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis’ records.

Instructions Calculate the index used for 2018 that yielded the above results.

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Price Date Index at Base Prices December 31, 2017 December 31, 2018 105 ? $92,000 97,000 Ending Inventory Ending Inventory at Dollar-Value LIFO $92,600 98,350