Question of
James's Televisions produces television sets in three categories: portable, midsize, and flatscreen. On adopted dollarvalue LIFO and decided to use a single inventory pool. The company's January invent
tableCategoryQuantity,Cost per Unit,Total CostPortable$$
Question of
a
Your answer is correct.
Price index
a
Your answer is incorrect.
Compute ending inventory, cost of goods sold, and gross profit. Round answers to decimal places, eg
Ending inventory $
Cost of goods sold $
Gross profit $
b
Assume the company uses three inventory pools instead of one. Compute ending inventory, cost of goods sold, and gross profit.
Round price index to decimal places, eg and final answers to decimal places, eg
Ending inventory $
Cost of goods sold $
Gross profit $
