Dollar-Value LIFO--Comprehensive

Kelly Company adopted dollar-value LIFO on January 1, 2015, using two inventory pools each of which includes two types of inventory items. Kelly uses the double-extension method to compute the appropriate cost index. The following information about the inventory at the end of each year is available:

1. Compute the cost index for each year for each pool using a base of 100 for each index. Round each cost index to 4 decimal places.

2. Compute the dollar-value LIFO inventory at teh end of each year. Round inventory to the nearest dollar.

Pool 1 Pool 2 Number Average Cost Number Average Cost of Units Type per Unit 40,000 C 20,000 D 50,000 C 22,000 D 46,000 C 20,000 D 60,000 C 25,000 D Year of Unis Type per Unit $5 $10 20 2015 20,000 A 10,0008 2016 30,000 A 24 12 12,000B 2017 40,000 A 14,000 B 2018 45,000 A 13,000B 12 25 Required: I. Compute the cost index for each year for cach pool using a base of 100 for cad to 4 decimal places 2. Compute the dollar-value LIFO inventory at the end of each year. Round inve