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In 2020, the GlowScapes, Inc. purchased 2,589,600 units from its supplier at a cost of $26.00 per unit. GlowScapes sold 2,786,450 units of its product
In 2020, the GlowScapes, Inc. purchased 2,589,600 units from its supplier at a cost of $26.00 per unit. GlowScapes sold 2,786,450 units of its product in 2020 at a price of $36.00 per unit. GlowScapes began 2020 with 354,900 units in inventory (inventory is carried at a cost of $26.00 per unit). Using this information, compute GlowScapes gross profit for 2020.
Referring back to the previous question, compute GlowScapes 2020 ending inventory balance in dollars (valued at cost per unit of $26.00).
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