FINANCIAL FORECASTING

2 Converge Merchanical Supplies produces a product with the following costs as of January 1, 2022: 60 Material Labor Overhead 40 30 130 Beginning inventory at these costs on January 1 was 7,300. From January 1 to December 31, Converge produced 19,000 units. These units had a material cost of P100 per unit. The costs for labor and overhead were the same. Coverge uses FIFO inventory accounting. Assuming that Coverge sold 21,000 units during the last six months of the year at P200 each, what would the gross profit be? 3 Using the information in #2, what is the ending inventory