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Question - Dollar-Value LIFO
Sisko Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Sisko's records.
Date
Price Index
Ending Inventory at Base Prices
Ending Inventory at Dollar-Value LIFO
December 31, 2009
105
$92,000
$92,600
December 31, 2010
?
98,000
99,200
Required - Calculate the index used for 2010 that yielded the above results.
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