On January 1, 2020, Nash Wholesalers Inc. adopted the dollar-value LIFO inventory method for income tax and external financial reporting purposes. However, Nash continued to use the FIFO inventory method for internal accounting and management purposes. In applying the LIFO method, Nash 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		8,200		$30		$246,000
Product B		7,380		25		184,500
						$430,500
Inventory, 12/31/20
Product A		13,530		36		$487,080
Product B		7,380		26		191,880
						$678,960
Inventory, 12/31/21
Product A		10,660		40		$426,400
Product B		8,200		32		262,400
						$688,800

(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

(b)

Compute the inventory amounts at December 31, 2020 and 2021 using the dollar-value LIFO inventory method

2020 2021

Inventory