Problem 4-16 Gross profit and ending inventory (L04-2] Sprint Shoes Inc. had a beginning inventory of 9,550 units on January 1, 20X1. The costs associated with the inventory were Material Labor Overhead 5 11.00 per unit 6.00 per unit 4.10 per unit During 20X1, the firm produced 43,600 units with the following costs Material Labor Overhead $17.50 per unit 8.80 per unit 10.30 per unit Sales for the year were 47.470 units at $43.00 each Sprint Shoes uses LIFO accounting .. What was the gross profit? (Do not round intermediate calculations.) Gross profit b. What was the value of ending inventory? (Do not round intermediate calculations.) Ending inventory