I need help with part a2 and b on this problem please and thank you!

Problem 8-08 (Part Level Submission)

Richards Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2020, Richard 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		7,200		$100		$ 720,000
Midsize		9,600		250		2,400,000
Flat-screen		3,600		400		1,440,000
		20,400				$4,560,000

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

Category		Quantity Purchased		Cost per Unit		Quantity Sold		Selling Price per Unit
Portable		18,000		$110		16,800		$150
Midsize		24,000		300		28,800		400
Flat-screen		12,000		500		7,200		600
		54,000				52,800

(a1)

	Your answer is correct.

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

Price index

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Attempts: 1 of 5 used

(a2)

	Your answer is incorrect. Try again.

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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Attempts: 3 of 5 used

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SUBMIT ANSWER

(b) The parts of this question must be completed in order. This part will be available when you complete the part above.