MOE Inc. had 200 Product M on hand at May 1 costing $18 each. Purchases and sales of the product during May were as follows: Purchases Sales Date Quantity Unit Cost Quantity Unit Price May 12 150 $100 May 14 100 $20 May 29 100 $22 May 30 100 $90 A physical inventory taken after the close of business on May 31 indicated that there were 150 units of Product M on hand. The gross profit for Product M for May under the moving average perpetual inventory method is