Problem 8-08 (Part Level Submission) Donald's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, Donald adopted dollar-value LIFO and decided to use a single Inventory pool. The company's January 1 Inventory consists of: Category Portable Quantity Cost per Unit Total Cost 12,000 Midsize 16,000 Flat-screen 6,000 34,000 $100 $ 1,200,000 250 4,000,000 400 2,400,000 $7,600,000 During 2020, the company had the following purchases and sales. Category Quantity Purchased Portable 30,000 Cost per Unit $110 Quantity Sold Selling Price per Unit 28,000 $150 Midsize 40,000 300 48,000 400 Flat-screen 20,000 500 12,000 600 90,000 88,000 (a1) Your answer is correct. Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.) Price Index $1.2156 SHOW SOLLITION LINK 10 TEXI (a2) 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 $ Attempts: 3 of 5 used