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Jerrico Wallboard Co. had a beginning inventory of 9,800 shoes on January 1, 20XX. The costs associated with the inventory were as follows: Material $

Jerrico Wallboard Co. had a beginning inventory of 9,800 shoes on January 1, 20XX. The costs associated with the inventory were as follows:

Material $ 11.00 per shoe
Labour 6.00 per shoe
Overhead 4.10 per shoe

During 20XX, the firm produced 44,100 units with the following costs:

Material $ 16.50 per shoe
Labour 8.80 per shoe
Overhead 9.30 per shoe

Sales for the year were 47,570 units at $41.60 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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