1. What is the Price Index

2. Ending Inventory: FIFO, LIFO & Average Cost

Coronado Corporation began operations on December 1, 2019. The only Inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $ 23 per unit. None of this inventory was sold in 2019. Relevant information is as follows. Ending Inventory units December 31, 2019 December 31, 2020, by purchase date 165 December 2, 2020 165 July 20, 2020 50 215 During the year 2020, the following purchases and sales were made Purchases Sales March 15 365 units at $28 April 10 265 July 20 365 units at 29 August 20 365 September 4 265 units 32 November 18 215 December 2 165 units at 35 December 12 265 The company uses the periodic inventory method