Describe the LIFO double-extension method. Using the following information, compute the index at 1 answer below »

Describe the LIFO double-extension method. Using the following information, compute the index at December 31,

2014, applying the double-extension method to a LIFO pool consisting of 25,500 units of product A and 10,350 units of product B. The base-year cost of product A is

$10.20 and of product B is $37.00. The price at December 31,

2014, for p r oduct A is $21.00 and for p r oduct B is $45.60.

(Round to two decimal places.)

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