RJ Corporation has provided the following information about one of its inventory items for the year ended 2018: Date Transaction Number of Units Cost per Unit 1/1 Beginning Inventory 400 $3,200 6/6 Purchase 800 $3,600 9/10 Purchase 1,200 $4,000 11/15 Purchase 800 $4,200 On December 1 2018, RJ sold 3,000 units at a selling price of $5000 per unit.

What is the closing balance of inventory? Provide quantity and Dollar value.

Draw the Inventory T account for the year ended Dec 31, 2018

What is the gross profit on the sale made on December 1 above?