Vaughn Corporation began operations on December 1, 2019. The only inventory transaction in 2019 was the purchase of inventory on December 10, 2019, at a cost of $24 per unit. None of this inventory was sold in 2019. Relevant information is as follows.

Ending inventory units
December 31, 2019				180
December 31, 2020, by purchase date
December 2, 2020		180
July 20, 2020		50		230

During the year 2020, the following purchases and sales were made.

Purchases						Sales
March 15		380 units	at	$29		April 10		280
July 20		380 units	at	30		August 20		380
September 4		280 units	at	33		November 18		230
December 2		180 units	at	36		December 12		280

The company uses the periodic inventory method.

(a1)

Calculate average-cost per unit. (Round answer to 2 decimal places, e.e. 2.76.)

Average-cost

$

(a2)

Determine ending inventory under (1) specific identification, (2) FIFO, (3) LIFO, and (4) average-cost. (Round answers to 0 decimal places, e.g. 2,760.)

		Specific Identification		FIFO		LIFO		Average-Cost
Ending Inventory		$		$		$		$

(b1)

Calculate price index. (Round answer to 4 decimal places, e.g. 2.7653.)

Price Index

(b2)

Determine ending inventory using dollar-value LIFO. Assume that the December 2, 2020, purchase cost is the current cost of inventory. (Hint: The beginning inventory is the base layer priced at $24 per unit.) (Round answer to 0 decimal places, e.g. 2,760.)

Ending inventory at dollar-value LIFO

$