Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1:

Material	$ 5
Labor	3
Overhead	2
	$ 10

Beginning inventory at these costs on July 1 was 6,700 units. From July 1 to December 1, Convex produced 18,000 units. These units had a material cost of $7 per unit.The costs for labor and overhead were the same. Convex uses FIFO inventory accounting.

a.Assuming that Convex sold 20,000 units during the last six months of the year at $14 each, what would gross profit be?

b.What is the value of ending inventory?