Honest Joe produces a product with the following costs as of July 1, 20XX: Material Labour Overhead 54 per unit per unit 4 per unit Assuming Honest Joe sold 25.000 units during the last six months of the year at $21each, beginning inventory at these costs on July was 7500 units. From July 1 to December 31, 20XY, Honest Joe produced 24,000 units. These units had a material cost of $5 per un The costs for labour and overhead were the same. a. If Honest Joe uses FIFO inventory accounting, what would be the gross profit for the period? Gross profit $ b. If Honest Joe uses FIFO inventory accounting. What is the value of ending inventory? Ending Inventory $