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Under the last-in, first-out (LIFO) inventory valuation method, a price index for inventory must be established for tax purposes. The quantity weights are based on

Under the last-in, first-out (LIFO) inventory valuation method, a price index for inventory must be established for tax purposes. The quantity weights are based on year-ending inventory levels.

Unit Price ($)
Product Ending Inventory Beginning Ending
A 500 0.15 0.19
B 50 1.40 1.80
C 100 4.50 4.20
D 60 11.00 13.20

Use the beginning-of-the-year price per unit as the base-period price and develop a weighted aggregate index for the total inventory value at the end of the year. (Round your answer to the nearest integer.)

I = __________

What type of weighted aggregate price index must be developed for the LIFO inventory valuation?

-Paasche index

-Laspeyres index

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