On May $1$ Wfildhorse Company had $400$ units of inventory on hand, at a cost of $$4\mathrm{.}00$ each. The company uses a perpetual

inventory system. All purchases and sales are on account. A record of inventory transactions for the month of May for the

company is as follows;

Purchases

Sales

May $4$

$1,500$ @

$$4\mathrm{.}00$

May $3$

$280$

@

$$7\mathrm{.}00$

$14$

$720$

@

$$4\mathrm{.}50$

$16$

$1,100$

$$7\mathrm{.}00$

$500$

$$4\mathrm{.}75$

$18$

$520$

@

$$7\mathrm{.}50$

calculate the gross profit of may