A company records the following monthly purchases and sales of an item. Month Number Bought Unit cost Number Sold Unit Price January 130 $25.00 98 40 February 75 $26.00 84 40 March 100 $24.00 65 40 April 140 $26.00 130 40 May 100 $28.00 82 40 June 90 $30.00 56 40 Assuming there is no opening stock and FIFO is used to trace the value of stocks, what is the gross profit