Donalds Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, Donald adopted dollar-value LIFO and decided to use a single inventory pool. The companys January 1 inventory consists of:

Category		Quantity		Cost per Unit		Total Cost
Portable		12,000		$100		$ 1,200,000
Midsize		16,000		250		4,000,000
Flat-screen		6,000		400		2,400,000
		34,000				$7,600,000

During 2020, the company had the following purchases and sales.

Category		Quantity Purchased		Cost per Unit		Quantity Sold		Selling Price per Unit
Portable		30,000		$110		28,000		$150
Midsize		40,000		300		48,000		400
Flat-screen		20,000		500		12,000		600
		90,000				88,000

(a1)

	Your answer is correct.

Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.)

Price index

1.2155

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(a2)

	Your answer is incorrect. Try again.

Compute ending inventory, cost of goods sold, and gross profit. (Round answers to 0 decimal places, e.g. 6,548.)

Ending inventory		$
Cost of goods sold		$
Gross profit		$