Price Index Date 100 Ending Inventory (End-of-Year Prices) $ 65,200 106,560 114,444 130,287 122,980 December 31, 2013 December 31, 2014 December 31, 2015 December 31, 2016 December 31, 2017 120 132 137 143 Use the dollar-value LIFO method to compute the ending inventory for Pronghorn Company for 2013 through 2017. Ending Inventory 2013 65,200 x 2014 193,072 2015 2016 2017 Exercise 8-8 Blue Industries purchased $11,700 of merchandise on February 1, 2017, subject to a trade discount of 10% and with credit terms of 3/15, n/60. It returned $3,000 (gross price before trade or cash discount) on February 4. The invoice was paid on February 13. Your answer is partially correct. Try again. Assuming that Blue uses the perpetual method for recording merchandise transactions, record the purchase, return, and payment using the gross method. (If no entry required, select "No entry" for the account titles and enter o for the amounts. Round answers to 0 decimal places, e.g. 6,578. Credit account titles are automatically indented when amount is entered. Do not indent manually.) Date Account Titles and Explanation Debit Credit Feb. 1 Inventory 10,530 Accounts Payable 10,530 Feb. 4 | Accounts Payable 2,7001 Inventory 2,700 Feb. 13 | Accounts Payable 7,830 Cash 235 Inventory 7,595