The Stone Shoe Company adopted dollar-value LIFO on January 1, 2007. The company produces four products and uses a single inventory pool. The company's beginning inventory consists of the following:

During 2007, the company has the following purchases and sales:

Required
1. Compute the LIFO cost of the ending inventory. (Round the cost index to 4 decimal places.)
2. By how much would the company's gross profit be different if it had used four pools instead of a singlepool?

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Quantity 80,000 30,000 Basketb 60,000 40,000 210,000 Type Running Tennis Cost per Uni $16 15 14 17 Total Cost $1,280,000 450,000 840,000 680,000 $3,250,000 Soccer Quantity Purchased 150,000 130,000 100,000 120,000 500,000 Quantity Selling Price Cost per Unit $19 16 Running Tennis Basketball Soccer Sold 140,000 100,000 90,000 140,000 470,000 r Unit %40 38 37 42