Not yet answered Question 37 Lian. Company uses a periodic inventory system. Details for the inventory account for the month of January, 2016 are as follows: Units Per unit Marked out of 1.00 Flag price Total Balance, 1/1/16 200 $5.00 $1,000 question Purchase, 1/15/16 100 5.30 530 Purchase, 1/28/16 100 5.50 550 An end of the month (1/31/16) inventory showed that 150 units were on hand. If the company uses FIFO and sells the units for $9 each, what is the gross profit for the month? Select one: a. $985 b. $1,000 c. $900 d. $1,440