On January 1,2015,RAY Co.adopted the dollar-value LIFO method for its one inventory pool.The pool's value on this date was $300 million.The 12/31/15 inventory valued at year-end costs was $385 million.The 12/31/15 inventory,using dollar-value LIFO was $355 million.
Required:
Calculate 2015 cost index for RAY's inventory.

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The Answer of On January 1,2015,RAY Co.adopted the dollar-value LIFO method for its one inventory pool.The pool's value on this date was $300 million.The 12/31/15 inventory valued at year-end costs was $385 million.The 12/31/15 inventory,using dollar-value LIFO was $355 million.
Required:
Calculate 2015 cost index for RAY's inventory.