Crown Company imports and sells a product produced in Germany. In the summer of 2015, a natural disaster disrupted production, affecting its supply of product. Crown uses the LIFO inventory method. On January 1, 2016, Crown's inventory records were as follows: Year purchased 2014 2015 Cost per unit $10 $20 Total cost Quantity in units 2500 4500 7000 $25,000 $90,000 $115,000 Through mid-December of 2016, purchases were limited to 50,000 units, because the cost had increased to $25 per unit. Crown sold 55,000 units during 2016 at a selling price of $50 per unit, which significantly depleted its inventory. The cost was expected to drop to $21 per unit by early January, 2017 Part A: Assume that Crown makes no further purchases during 2016. Compute the gross profit for 2016 Part B: Assume that Crown purchases 8,800 units before the end of December, 2016 at $25 each. Compute its gross profit for 2016