The Bradley Corporation produces a product with the following costs as of July 1, 20X1:

Beginning inventory at these costs on July 1 was 3,700 units. From July 1 to December 1, 20X1, Bradley produced 13,400 units. These units had a material cost of $2, labor of $3, and overhead of $4per unit. Bradley uses LIFO inventory accounting. Assuming that Bradley sold 15,800 units during the last six months of the year at $14each, what is its gross profit? What is the value of ending inventory?

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Material. Labor....... Overhead $5per unit 3per unit 1 perunit