Joseph's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, Joseph 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 8,400 $100 $840,000 Midsize 11,200 250 2,800,000 Flat-screen 4,200 400 1,680,000 23,800 $5,320,000 During 2020, the company had the following purchases and sales. Quantity Category Purchased Cost per Unit Quantity Sold Selling Price per Unit Portable 21,000 $110 19,600 $150 Midsize 28,000 300 33,600 400 Flat-screen 14,000 500 8,400 600 63,000 61,600 (a1) Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.) Price index eTextbook and Media Save for Later Attempts: 0 of 5 used Submit Answer (a2) Compute ending inventory, cost of goods sold, and gross profit. (Round answers to O decimal places, e.g. 6,548.) Ending inventory Cost of goods sold Gross profit $ eTextbook and Media (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 $ eTextbook and Media Save for Later Attempts: 0 of 5 used Submit