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Problem 8-08 (Part Level Submission) Gary's Televisions produces television sets in three categories: portable, midsize, and flat- screen. On January 1, 2020, Gary adopted dollar-value
Problem 8-08 (Part Level Submission) Gary's Televisions produces television sets in three categories: portable, midsize, and flat- screen. On January 1, 2020, Gary adopted dollar-value LIFO and decided to use a single inventory pool. The company's January 1 inventory consists of: Category Portable Midsize Flat-screen Quantity 18,000 24,000 9,000 51,000 Cost per Unit $100 250 400 Total Cost $ 1,800,000 6,000,000 3,600,000 $11,400,000 During 2020, the company had the following purchases and sales. per Unit Category Portable Midsize Quantity Purchased 45,000 60,000 30,000 135,000 Cost per Unit $110 300 500 Quantity Selling Price Sold 42,000 $150 72,000 400 18,000 600 132,000 Flat-screen (a1) Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.) Price index
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