Crane Company's inventory records show the following data: Units Unit Cost Inventory: January 1 9500 $8.80 Purchases: June 18 8500 7.00 November 8 5500 6.00 A physical inventory on December 31 shows 3500 units on hand. Crane sells the units for $11 each. The company has an effective tax rate of 18%. Crane uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period? $70400 $64900 $74700 $66900