Cox Corporation produces a product with the following costs as of July 1, 20XX: Material Labour Overhead $4 per unit 4 per unit 2 per unit Assuming Cox sold 16,000 units during the last six months of the year at $18 each, beginning inventory at these costs on July 1 was 3,750 units. From July 1 to December 31, 20XY, Cox produced 13,500 units. These units had a material cost of $4 per unit. The costs for labour and overhead were the same. (Round your intermediate values to 2 decimal places and final answer to the nearest whole dollars.) a. Assumed Cox Corporation used average cost inventory accounting, what would gross profit be? Gross profit $ b. Assumed Cox Corporation used average cost inventory accounting, what is the value of ending inventory? Ending inventory

Cox Corporation produces a product with the following costs as of July 1 . 20XX: Assuming Cox sold 16,000 units during the last six months of the year at $18 each, beginning inventory at these costs on July 1 was 3,750 units. From July 1 to December 31, 20XY, Cox produced 13,500 units. These units had a material cost of $4 per unit. The costs for labour and overhead were the same. (Round your intermediate values to 2 decimal places and final answer to the nearest whole dollars.) a. Assumed Cox Corporation used average cost inventory accounting, what would gross profit be? Gross profit $ b. Assumed Cox Corporation used average cost inventory accounting, what is the value of ending inventory? Ending inventory $