On January 1, 2020, Blue Wholesalers Inc. adopted the dollar-value LIFO inventory method for income tax and external financial reporting purposes. However, Blue continued to use the FIFO inventory method for internal accounting and management purposes. In applying the LIFO method, Blue 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, 1/1/20 Product A 12,200 $30 $366,000 Product B 10,980 25 274,500 $640,500 Inventory, 12/31/20 Product A 20,130 36 $724,680 Product B 10,980 26 285,480 $1,010,160 Inventory, 12/31/21 Product A 15,860 40 $634,400 Product B 12,200 32 390,400 $1,024,800 (a) Compute the internal conversion price indexes for 2020 and 2021. (Round price index to 2 decimal places, e.g. 1.62.) 2020 2021 Conversion price index eTextbook and Media Attempts: 0 of 3 used (b) The parts of this question must be completed in order. This part will be available when you complete the part above

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