Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis’ rec
Oasis Company has used the dollar-value LIFO method for inventory cost determination for many years. The following data were extracted from Oasis’ records.
\r\nPrice Ending Inventory Ending Inventory
\r\nDate Index at Base Prices at Dollar-Value LIFO
\r\nDecember 31, 2014 105 $92,000 $92,600
\r\nDecember 31, 2015 ? 97,000 98,350
\r\nInstructions
\r\nCalculate the index used for 2015 that yielded the above results.