Poole Company purchased two identical inventory items. One of the items, purchased in January, cost $50. The other, purchased in February, cost $67. One of the items was sold in March at a selling price of $190. Poole uses LIFO. Which of the following statements is true?

Multiple Choice

The amount of cost of goods sold would be $50.

The amount of ending inventory would be $58.5.

The amount of gross margin would be $123.

The balance in ending inventory would be $67.