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Problem 8-08 (Part Level Submission) Johns Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, John 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 3,600 $100 $ 360,000 Midsize 4,800 250 1,200,000 Flat-screen 1,800 400 720,000 10,200 $2,280,000 During 2020, the company had the following purchases and sales. Category Quantity Purchased Cost per Unit Quantity Sold Selling Price per Unit Portable 9,000 $110 8,400 $150 Midsize 12,000 300 14,400 400 Flat-screen 6,000 500 3,600 600 27,000 26,400

(a1) Your answer is correct. Calculate price index. (Round price index to 4 decimal places, e.g. 1.4562.) Price index SHOW SOLUTION LINK TO TEXT Attempts: 1 of 5 used

(a2) 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 $

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