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Can someone please help me with these 3 parts? Thank you in advance!! Edward's Televisions produces television sets in three categories: portable, midsize, and flat-screen.
Can someone please help me with these 3 parts? Thank you in advance!!
Edward's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, Edward 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 14,400 $ 100 $ 1.440,000 Midsize 19,200 250 4.800,000 Flat-screen 7,200 400 2,880,000 40,800 $9,120,000 During 2020, the company had the following purchases and sales. Quantity Purchased Quantity Sold Selling Price per Unit Category Cost per Unit Portable 36,000 $ 110 33,600 $ 150 Midsize 48.000 300 57,600 400 Flat-screen 24,000 500 14,400 600 108,000 105,600 (a 1) * Your answer is incorrect. Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.) Price index 1.21 (a2) Compute ending inventory, cost of goods sold, and gross profit. (Round answers to decimal places, e.g. 6,548.) Ending inventory $ Cost of goods sold $ Gross profit $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (b). Assume the company uses three inventory pools instead of one. Compute ending inventory, cost of goods sold, and gross profit. (Round price index to 2 decimal places, e.g. 1.45 and final answers to O decimal places, e.g. 6,548.) Ending inventory $ Cost of goods sold $ Gross profit $Step by Step Solution
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