$6 Creative Metal Socks produces a product with the following costs as of July 1, 2012: Materials Labor $4 Overhead Total $12 $2 Beginning Inventory at these costs on July 1 was 5,000 units. From July 1 to December 1, CMS produced 15,000 units. These units had a material costs of $10/unit. The costs for labor and overhead were the same. CMS uses FIFO inventory accounting . Assuming CMS sold 17,000 units during the last six month of the year at $20/each, what would gross profit be? What is the value of ending inventory