Please help me out at your earliest convenience to understand practice question and add your calculations too.

CPA Practice Question

Gott Company adopted the dollar-value LIFO inventory method on 12/31/16. On this date, its inventory consisted of the following items.

Item	Number of Units	Cost Per Unit	Total Cost
X	300	$2.50	$750
Y	900	4.50	4,050
$4,800

Additional information:

December 31
2017	2018
1.	Units of X in inventory	450	600
2.	Cost of each X unit	$3.00	$3.25
3.	Units of Y in inventory	1,200	1,800
4.	Cost of each Y unit	$5.50	$6.00

Compute the price index for 2017. (Round answer to 2 decimal places, e.g. 52.75.)

Price index for 2017

$

Calculate the 12/31/17 inventory.

Inventory

$

Compute the price index for 2018. (Round answer to 2 decimal places, e.g. 52.75.)

Price index for 2018

$

Calculate the 12/31/18 inventory. (Round answer to 0 decimal places, e.g. 5,275.)

Inventory	$

Please help me out at your earliest convenience to understand practice question and add your calculations too. CPA Practice Question Gott Company adopted the dollar-value LIFO inventory method on 12/31/16. On this date, its inventory consisted of the following items. Item X Number of Units 300 Y Cost Per Unit $2.50 900 4.50 Total Cost $750 4,050 $4,800 Additional information: December 31 1. 2. 3. 4. Units of X in inventory Cost of each X unit Units of Y in inventory Cost of each Y unit 2017 450 $3.00 1,200 $5.50 2018 600 $3.25 1,800 $6.00 Compute the price index for 2017. (Round answer to 2 decimal places, e.g. 52.75.) $ Price index for 2017 Calculate the 12/31/17 inventory. $ Inventory Compute the price index for 2018. (Round answer to 2 decimal places, e.g. 52.75.) $ Price index for 2018 Calculate the 12/31/18 inventory. (Round answer to 0 decimal places, e.g. 5,275.) $ Inventory