Poole Company purchased two identical inventory items. One of the items, purchased in January, cost $4.50. The other, purchased in February, cost $4.75. One of the items was sold in March at a selling price of $7.50. Select the correct answer assuming that Poole uses a LIFO cost flow. The balance in ending inventory would be $4.75. The amount of gross margin would be $2.75. The amount of ending inventory would be $4, 625. The amount of cost of goods sold would be $4.50