Please help me. Thankyou. Current Attempt in ProgressChris's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2025, Chris adopteddollar-value LIFO and decided to use a single inventory pool. The company's January 1 inventory consists of:CategoryPortableMidsizeFlat-screenCategoryPortableMidsizeQuantity Cost per Unit$100Flat-screen9,60012,8004,80027,200QuantityPurchasedDuring 2025, the company had the following purchases and sales.24,00032,00016,00025072,000400Cost per Unit$110300Total Cost500$960,0003,200,0001,920,000$6,080,000QuantitySold22,40038,4009,60070,400Selling Priceper Unit$150400600 (b)* Your answer is incorrect.Assume the company uses three inventory pools instead of one. Compute ending inventory, cost of goods sold, and gross profit.(Round price index to 2 decimal places, e.g. 1.45 and final answers to O decimal places, e.g. 6,548.)Ending inventoryCost of goods soldGross profit$Save for Later$$eTextbook and Media7,680,00018,640,0005,840,000Attempts: 1 of 3 usedSubmit Answer

Answer:- LIFO method:- The LIFO method is another name for the last-in, first out approach. The…

Chris's Televisions produces television sets in three categories: portable, midsize, and flat-screen. On January 1, 2025, Chris adopted dollar-value LIFO and decided to use a single inventory pool. The company's January 1 inventory consists of: Category Quantity Portable Midsize Flat-screen Category Portable Midsize 9,600 Flat-screen 12,800 4,800 27,200 Quantity Purchased 24,000 During 2025, the company had the following purchases and sales. 32,000 16,000 Cost per Unit $100 72,000 250 400 Cost per Unit $110 300 Total Cost 500 $960,000 3,200,000 1,920,000 $6,080,000 Quantity Sold 22,400 38,400 9,600 70,400 Selling Price per Unit $150 400 600