Problem 8-8 (Part Level Submission) Morgans Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2017, Morgan adopted dollar-value LIFO and decided to use a single inventory pool. The companys January 1 inventory consists of:

Category		Quantity		Cost per Unit		Total Cost
Portable		6,200		$124		$ 768,800
Midsize		7,900		310		2,449,000
Flat-screen		3,100		496		1,537,600
		17,200				$4,755,400

During 2017, the company had the following purchases and sales.

Category		Quantity Purchased		Cost per Unit		Quantity Sold		Selling Price per Unit
Portable		15,200		$136		14,400		$186
Midsize		19,900		372		23,200		502
Flat-screen		9,700		620		6,200		744
		44,800				43,800

-Calculate price index 2-Compute ending inventory, cost of goods sold, and gross profit. 3-"Assume the company uses three inventory pools instead of one.