Eneri Company's inventory records show the following data:

Units

Unit Cost

Inventory, January 1

5,000

$9.20

Purchases:	June 18	4,500	8.00
	November 8	3,000	7.00

A physical inventory on December 31 shows 2,000 units on hand. Eneri sells the units for $13 each. The company has an effective tax rate of 20%. Eneri uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?

$47,500

$49,633

$49,980

$51,900