Jasons Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, Jason 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		16,800		$100		$ 1,680,000
Midsize		22,400		250		5,600,000
Flat-screen		8,400		400		3,360,000
		47,600				$10,640,000

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

Category		Quantity Purchased		Cost per Unit		Quantity Sold		Selling Price per Unit
Portable		42,000		$110		39,200		$150
Midsize		56,000		300		67,200		400
Flat-screen		28,000		500		16,800		600
		126,000				123,200

(a1)

Correct answer iconYour answer is correct.

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

Price index

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Attempts: 1 of 2 used

(a2)

• Your Answer
• Correct Answer

Correct answer iconYour answer is correct.

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		$

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Attempts: 2 of 2 used

(b)

Incorrect answer iconYour answer is incorrect.

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 0 decimal places, e.g. 6,548.)

Ending inventory		$
Cost of goods sold		$
Gross profit		$

I need you to focus on the last part (Assume the company uses three inventory pools instead of one. Compute ending inventory, cost of goods sold, and gross profit).