At the start of July, a company has beginning inventory of 200 units that cost $5.50 each. The company purchases 300 units for $5.00 each on July 18. If the company sells 400 units during July for $8.75 each and uses the weighted-average cost flow method, how much gross profit is generated in July? (Ch8) $3,500 $2,080 $1,400 $1,420