Concord Company sells two types of pumps. One is large and is for commercial use. The other is smaller and is used in residential swimming pools. The following inventory data is available for the month of March.

Units Price per Unit Total

Residential Pumps Inventory at Feb. 28: 220 $ 380 $ 83,600

Purchases: March 10 490 $460 $225,400

March 20 400 $ 490 $ 196,000

March 30 300 $ 520 $ 156,000

Sales: March 15 500 $ 550 $ 275,000

March 25 400 $ 580 $ 232,000 I

nventory at March 31: 510

Commercial Pumps Inventory at Feb. 28: 590 $ 780 $ 460,200

Purchases: March 3 590 $ 920 $ 542,800

March 12 290 $ 930 $ 269,700

March 21 500 $ 1,010 $ 505,000

Sales: March 18 880 $ 1,080 $ 950,400

March 29 590 $ 1,120 $ 660,800

Inventory at March 31: 500

Assume Concord uses dollar-value LIFO and one pool, consisting of the combination of residential and commercial pumps. Determine the cost of inventory on hand at March 31 and the cost of goods sold for March. Assume Concords initial adoption of LIFO is on March 1. Use the double-extension method to determine the appropriate price indices. (Hint: The price index for February 28/March 1 should be 1.00.) (Round Price Index to 3 decimal places e.g. 1.522 and other answers to 0 decimal places, e.g. 5,275.)

I know the ansers are: Ending inventory at current cost = $ 763,900

Ending inventory at base-year cost = ( 500 $ 780) + ( 510 $ 380) = $ 583,800

Price index = $ 763,900 / $ 583,800 = 1.308

but how do i get there???

This is the second 1/2: again, i have the answers just dont know how to get there

Current Inventory at base cost Conversion price index Inventory at LIFO cost

Ending inventory

Base inventory ($ 83,600 + $ 460,200) $ 543,800 1.000 $ 543,800

Layer ($ 583,800 $ 543,800) 40,000 1.308 52,320

Total $ 583,800 $ 596,120

Cost of goods sold = $ 543,800 + ($ 577,400 + $ 1,317,500) $ 596,120 = $ 1,842,580