Problem 8-8

John's Televisions produces television sets in three categories:

Problem 8-8 John's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2017, John adopted dollar-value LIFO and decided to use a single inventory pool. The company's January 1 inventory consists of: Category Quantit y Cost per Unit Total Cost Portable 5,900 $112 $ 660,800 Midsize 8,200 280 2,296,000 Flat-screen 2,800 448 1,254,400 16,900 $4,211,200 During 2017, the company had the following purchases and sales. Category Quantity Purchase d Cost per Unit Quantit y Sold Selling Price per Unit Portable 15,300 $123 14,000 $168 Midsize 20,900 336 24,100 454 9,800 560 5,900 672 Flat-screen 46,000 44,000 Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.) Price index 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 $ $ $ Assume the company uses three inventory pools instead of one. Compute ending inventory, cost of goods sold, and gross profit. (Round price index to 6 decimal places, e.g. 1.456287 and final answers to 0 decimal places, e.g. 6,548.) Ending inventory Cost of goods sold Gross profit Click if you would like to Show Work for this question: $ $ $ Open Show Work