Problem 8-09 On January 1, 2020, Sheridan Wholesalers Inc., adopted the dollar-value LIFO inventory method for income tax and external financial reporting purposes. However, Sheridan continued to use the FIFO Inventory method for internal accounting and management purposes. In applying the LIFO method, Sheridan uses internal conversion price indexe and the multiple pools approach under which substantially identical Inventory items are grouped into LIFO inventory pools. The following data were available for inventory po no. 1, which comprises products A and B, for the 2 years following the adoption of LIFO. FIFO Basis per Records Unit Total Units Cost Cost Inventory, 1/1/20 Product A 9,200 530 $276,000 Products 8,280 25 207,000 $483,000 Inventory, 12/31/20 Product A 15,180 36 $546,480 Products 8,280 26 215,280 $761,760 Inventory, 12/31/21 Product A 11,960 405478,400 Products 9,200 32 294,400 $772,800 Compute the internal conversion price indexes for 2020 and 2021. (Round price index to 2 decimal places, e.g. 162.) 2020 2021 Conversion price index