1.calculate the price index for 2020 and 2021

2.what is the 2020 year-end inventory balance using dollar-value LIFO?

3.what is the 2021 year-end inventory balance using dollar-value LIFO?

4. what is the required 2021 journal entry at the end of the year to adjust the account balance from FIFO-based to LIFO-based amount?

QUESTION 33 Workout Problem-1 Use the information below for the following four questions: On January 1, 2020, Materazzi Inc. adopted the dollar value LIFO inventory method (single pool) for income tax and external financial reporting purposes, while maintaining the FIFO inventory method for internal records. The following data are available for Materazzi's inventory, which comprises products A and B: Inventory Inventory Inventory (12/31/2019) (12/31/2020) (12/31/2021) No. of units Unit Cost ($) No. of Units Unit Cost ($) No. of units Unit Cost ($) 35,000 2.000 100,000 1.800 90,000 3.000 10,000 4.000 16,000 6.075 25,000 1.520 3 Iultat du foonnnd2004 Save and Submit to save and submit. Click Save All Answers to save all answers. Save A MacBook Air o