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Use the following information to answer questions 14-17. On January 1 of Year 5, Joe Company changed from FIFO to LIFO for income lax and

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Use the following information to answer questions 14-17. On January 1 of Year 5, Joe Company changed from FIFO to LIFO for income lax and extemal reporting purposes. On that same date, the boginning FIFO inventory (the base inventory for LIFO purposes) was 56,100 . The following information is available for Joe's records for Year 5 through Year 6 . What is the price index for Year 5 ? 0.420 1.000 1220 1279 QUESTION 15 Use the foltowing information to answer questions 14-17. On January 1 of Year 5 Joe Company changed from FFFO to LFO for income tax and extemal reporting purposes. On that same dale, the beginning FIFO inventory (the base inventory for LIFO purposes) wass $6,100. The following information is avafable for Joe's records for Year 5 through Yoar 6 What ia the price indox for Year 6 ? 0.782 1,000 1+22n

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