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Jerrico Wallboard Co . had a beginning inventory of 1 0 , 0 0 0 shoes on January 1 , 2 0 x x .

Jerrico Wallboard Co. had a beginning inventory of 10,000 shoes on January 1,20xx. The costs associated with the inventory were as
follows:
Material $15.00 per shoe
Labour ,8.00 per shoe
Overhead 7.10 per shoe
During 20XX, the firm produced 44,500 units with the following costs:
Material $14.50 per shoe
Labour ,6.80 per shoe
Overhead 7.30 per shoe
Sales for the year were 47,650 units at $45.00 each. Jerrico uses average cost accounting.
a. What was the gross profit? (Do not round intermediate calculations. Round your answer to nearest whole dollar.)
Gross profit $
b. What was the value of ending inventory? (Do not round intermediate calculations. Round your answer to nearest whole dollar.)
Ending inventory
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