Beginning inventory at these costs on July 1 was 10,900 units. From July 1 to December 1, Convex produced 25,000 units. These units had a material cost of $10 per unit. The costs for labor and overhead were the same. Convex uses FIFO inventory accounting. a. Assuming that Convex sold 27,000 units during the last six months of the year at $20 each, what would gross profit be? Gross profit b. What is the value of ending inventory? Ending inventory