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Question 3 of 6 James's Televisions produces television sets in three categories: portable,...

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Accounting

Question 3 of 6
James's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On adopted dollar-value LIFO and decided to use a single inventory pool. The company's January 1 invent
\table[[Category,Quantity,Cost per Unit,Total Cost],[Portable,3,000,$100,$300,000
Question 3 of 6
(a1)
Your answer is correct.
Price index =1.2156
(a2)
Your 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 $ =
(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 2 decimal places, e.g.1.45 and final answers to 0 decimal places, e.g.6,548.)
Ending inventory $ =
Cost of goods sold $ =
Gross profit $ =
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