Cox Corporation produces a product with the following costs as of July 1, 20XX. Assuming Cox sold 24,000 units during the last six months of the year at $25 each, beginning inventory at these costs on July 1 was 7,000 units From July 1 to December 31, 20XY. Cox produced 18.000 untis. These units had a material cost of $6 per unit The costs for labour and overhead were the same 6. MCox uses FIFO inventory occounting, whot would be the gross protis for the period? Gross profis b. If Cox uses FIFO inventory occounting. What is the vaiue of ending Inventory? Ending inventory 5