Cement Company, Inc. began the first quarter with 1,000 units of inventory costing $25 per unit. During the first quarter, 3,000 units were purchased at a cost of $40 per unit, and sales of 3,400 units at $65 per units were made. During the second quarter, the company expects to replace the units of beginning inventory sold at a cost of $45 per unit. Cement Company uses the LIFO method to account for inventory. Please provide detailed calculation. The amount of gross profit for the first quarter is:

A.

$83,000

B.

$87,000

C.

$90,000

D.

$221,000

E.

$250,000