On 31 December 2022, Ithaca Manufacturing had 3,000 units in its Finished Goods inventory. The balance sheet on December 31 indicated that these items had a total dollar value of $87,345. During the first quarter of 2023, the company expects to sell 35,000 units at a price of $60/unit. During the same period, the estimated production is 34,000 units at a cost of $28/unit. What is the expected gross profit for the quarter if the company follows a LIFO method? [4 Marks]