Options are:

$18,000

$12,600

$12,400

$22,400

1. Inventory Information for Great Falls Merchandising, Inc. is provided below. Sales for the period were 2.800 units at $10 each. The company uses a FIFO periodic Inventory system. Number of Units 1,000 600 January 1 January February March Totals Beginning inventory Purchase Purchase Purchase Unit Cost $3.00 $3.50 $4.00 $4.25 800 1200 3,600 Total Cost $3.000 $2,100 $3.200 $5.100 $13.400 Determine the gross profit for the quarter ended March 31