Cox Corporation produces a product with the following costs as of July 1, 20XX:

Material	$6 per unit
Labour	8 per unit
Overhead	6 per unit

Assuming Cox sold 27,000 units during the last six months of the year at $23 each, beginning inventory at these costs on July 1 was 8,500 units. From July 1 to December 31, 20XY, Cox produced 21,000 units. These units had a material cost of $7 per unit. The costs for labour and overhead were the same.

a. If Cox uses FIFO inventory accounting, what would be the gross profit for the period?

Gross profit $

b. If Cox uses FIFO inventory accounting, What is the value of ending inventory?

Ending inventory $