BCD Company had the following transactions for the month. Number of Units Total Cost Beginning Inventory 700 $24,500 Purchased Aug 1 650 $27,300 Purchased Aug 18 774 $34,830 Total Available for Sale 2,124 $86,630 Ending Inventory 150 Calculate the gross margin for the period using the LIFO (last in, first out) cost allocation methods, using periodic inventory updating. Assume that all units were sold for $50 each.