Inventory information for Part 311 of Novak Corp. discloses the following information for the month of June: June 1 11 20 Balance Purchased Purchased 460 units @ $1 1,210 units @ $2 740 units @ $3 June 10 15 27 Sold Sold Sold 300 units @ $2.40 740 units @ $2.50 460 units @ $2.70

Inventory information for Part 311 of Novak Corp. discloses the following information for the month of June: Assuming that the perpetual inventory method is used and costs are computed at the time of each withdrawal, what is the gross profit if the inventory is valued at FIFO? Gross profit (FIFO)