Dollar Value LIFO. Assume that the price index in the economy approximates the unit price increase from the first purchase of the year on January 5,20X4 to the last purchase of the quarter on March 15,20X4. Do not annualize the index.

Borage Company was formed on December 1, 20X3. The following information is available from Borage's inventory record for one of its products. BORAGE COMPANY INVENTORY DATA FOR QUARTER ENDING MARCH 31, 20X4 Units Cost Per Unit 1,600 $ January 1, 20X4 (beginning inventory) Purchases 18.00 January 5, 20X4 January 25, 20X4 February 16, 20X4 March 15, 20X4 2,600 2,400 1,000 1,800 20.00 21.00 22.00 23.00 Sales January 18, 20X4 February 8, 20X4 March 18,20X4 3,000 2,100 1,600 A physical inventory on March 31, 20X4, shows 2,400 units on hand