Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1: Material $ 5 Labor 4 Overhead 3 $ 12 Beginning inventory at these costs on July 1 was 5,500 units. From July 1 to December 1, Convex produced 16,000 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 18,000 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?

Convex Mechanical Supplies produces a product with the following costs as of July 1, 20X1: Material Dverhead 17 lator and overhcad were the same. Convex uscs FIFO inventory accounting. Ecginning inventory at these costs on July 1 was 5.500 units. From July 1 to December 1, Convcx produced 15,000 units. Thesc units had a material cost of $7 per unit The costs , Assuming thatl Canvex sald 18.000 unils during the last six months of the year at $14 each, what wauld gross prot be? Gross proft , What is the value of ending inventory? Ending invantory