the company uses the periodic inventory method

Novak Corporation began operations on December 1,2024. The only inventory transaction in 2024 was the purchase of inventory on December 10,2024 , at a cost of $26 per unit. None of this inventory was sold in 2024 . Relevant information is as follows: During the year, the following purchases and sales were made Calculate the price index for 2025. Assume that the December 2, 2025, purchase cost is the current cost of inventory. (Hint: The beginning imventory is the base layer priced at $26 per unit.) (Round answer to 4 decimal places, eg. 2.7653.) Price index