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Steves Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2017, Steve adopted dollar-value LIFO and decided to use a

Steves Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2017, Steve adopted dollar-value LIFO and decided to use a single inventory pool. The companys January 1 inventory consists of:

Category

Quantity

Cost per Unit

Total Cost

Portable 6,000 $119 $ 714,000
Midsize 7,700 298 2,294,600
Flat-screen 2,900 476 1,380,400
16,600 $4,389,000

During 2017, the company had the following purchases and sales.

Category

Quantity Purchased

Cost per Unit

Quantity Sold

Selling Price per Unit

Portable 15,200 $131 13,700 $179
Midsize 20,300 357 23,800 482
Flat-screen 10,100 595 6,000 714
45,600

43,500

Calculate The Price Index.

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