Williams Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, William 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		5,400		$100		$ 540,000
Midsize		7,200		250		1,800,000
Flat-screen		2,700		400		1,080,000
		15,300				$3,420,000

During 2020, the company had the following purchases and sales.

Category		Quantity Purchased		Cost per Unit		Quantity Sold		Selling Price per Unit
Portable		13,500		$110		12,600		$150
Midsize		18,000		300		21,600		400
Flat-screen		9,000		500		5,400		600
		40,500				39,600

(a1)

Your answer is correct.

Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.)

Price index

1.2156

(a2)

Incorrect answer iconYour answer is incorrect.

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		$