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Dunk Company adopted the dollar-value LIFO inventory method on 12/31/2020 and uses one inventory pool. On this date, its inventory consisted of the following items:
Dunk Company adopted the dollar-value LIFO inventory method on 12/31/2020 and uses one inventory pool. On this date, its inventory consisted of the following items: Item A B Number of Units Cost Per Unit 300 900 $2.50 4.50 Additional information: December 31 2021 2022 Units of Item A in inventory 450 500 Units of Item B in inventory 1,200 1,000 Cost of each unit of Item A $3.00 $3.25 Cost of each unit of Item B 5.50 6.00 Required 1. Compute the price index for 2021. Round to 2 decimal places. 2. Calculate the 12/31/2021 inventory. 3. Compute the price index for 2022. Round to 2 decimal places. 4. Calculate the 12/31/2022 inventory
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