Marco Sun Fun manufactures three categories of bicycles: Mountain, Road, and Hybrid. On January 1, 2018, Marco adopted dollarvalue LIFO and decided to use a single inventory pool. The companys January 1 inventory consists of:

Category Mountain Road Hybrid

Quantity 3,000 2,000 5,000 10,000

Cost per Unit $450

800 250

Total Cost $1,350,000 1,600,000 1,250,000 $4,200,000

Selling Price per Unit

$ 6501,200500

During 2018, the company had the following purchases and sales.

Category Mountain Road Hybrid

Quantity Purchased

10,000 9,000 13,000 32,000

Cost per Unit

$495 820 300

Quantity Sold

11,000 8,000 12,000 31,000

Required: Compute ending inventory, cost of goods sold, and gross profit. (Hint: to obtain the balance of ending inventory at current period cost, you need to find the number of units of each category in ending inventory and then use the most recent cost per unit).