Lifo inventory valuation method

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Reference no: EM13954530

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, 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. Ending unit price Product Ending inventory Beginning Ending A 500 .15 .19 D 50 1.60 1.80 C 100 4.50 4.20 D 40 12.00 13.20

What is the value of the weighted aggregate index for the total inventory value at year end to the nearest whole number?
What type of weighted aggregate price index must be developed for the LIFO inventory valuation?

Reference no: EM13954530

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