Steven's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2025, Steven
adopted dollar-value LIFO and decided to use a single inventory pool. The company's January 1 inventory consists of:
Category Quantity
Cost per Unit
Total Cost
Portable
13,800
$100
$1,380,000
Midsize
18.400
250
4,600,000
Flat-screen
6,900
400
2,760,000
39,100
$8,740,000
During 2025, the company had the following purchases and sales.
Category
Quantity
Purchased
Quantity
Cost per Unit Sold
Selling Price
per Unit
Portable
34,500
$110
32,200
$150
Midsize
46,000
300
55,200
400
Flat-screen
23.000
500
13,800
600
103.500
101.200
(a1)
Your answer is incorrect.
Calculate the price index for 2025. (Round price index to 4 decimal places, eg. 1.4562.)
Price Index
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