On January 1, 2014, Bonanza Wholesalers Inc. adopted the dollar-value LIFO inventory method for income tax and external financial reporting purposes. However, Bonanza continued to use the FIFO inventory method for internal accounting and management purposes. In applying the LIFO method, Bonanza uses internal conversion price indexes and the multiple pools approach under which substantially identical inventory items are grouped into LIFO inventory pools. The following data were available for inventory pool no. 1, which comprises products A and B, for the 2 years following the adoption of LIFO.

		FIFO Basis per Records
		Units		Unit Cost		Total Cost
Inventory, 1/1/14
Product A		10,220		$42		$429,240
Product B		9,220		35		322,700
						$751,940
Inventory, 12/31/14
Product A		17,220		51		$878,220
Product B		9,220		37		341,140
						$1,219,360
Inventory, 12/31/15
Product A		13,220		56		$740,320
Product B		10,220		45		459,900
						$1,200,220

1a. Compute the internal conversion price indexes for 2014 and 2015.

1b. Compute the inventory amounts at December 31, 2014 and 2015, using the dollar-value LIFO inventory method.