Convex Mechanical Supplies produces a product with the following costs as of July, 1 2012:

material	$6
labor	4
overhead	2
	$12

Beginning inventory at these costs on July 1 was 5,000 units. From July 1 to Deceber 1, Convex produced 15,000 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.

Assuming the Convex sold 17,000 units during the last six months of the year at $20 each, what would gross profit be? What is the value ending inventory?