Addison Hardware began the month of November with 150 large brass switchplates on hand at a cost of $4.00 each. These switchplates sell for $7.00 each. The following schedule presents the sales and purchases of this item during the month of November Purchases Sales Number of Units Unit Cost Units Sold Transaction November 5 November 7 $4.20 November 9 4.40 220 November 11 November 17 November 22 November 29 480 100 If Addison uns weighted average inventory pricing periodic), the gross profit for November would be Select one: $1,482 $1,046 $1,516 $1,548