It should be in higher,lower

AUNVIN LUV 191GIG VIJ I 3 Use the following information for the month of July to answer the question below: t of ABC Inc. uses the FIFO cost formula in a perpetual inventory system. Jul 1 Beginning inventory 20 units @ $19 per unit Jul 7 Purchases 70 units @ $20 per unit Jul 8 Sales 50 units Jul 9 Sales 25 units Jul 10 Purchases 50 units @ $22 per unit Jul 22 Sales 40 units If ABC Inc. used the average cost formula instead of FIFO, gross profit from the July 8 sale would be