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?