True Blue Corp. sold 5,500 units of its product at $45 per unit in year 2005 and incurred operating expenses of $6 per unit in selling the units. It began the year with 600 units in inventory and made successive purchases of its product as follows:

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Jan. 1 Beginning inventory 600 units @$18 per unit Feb. 201 Purchase 1,500 units @ $19 per unit May 16 Purchase 700 units @ $20 per unit Oct. 3 Purchase 400 units @ $21 per unit Dec. 11 Purchase 3,300 units @ $22 per unit Total 6,500 units