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Sheffield Company's inventory records show the following data: UnitsUnit Cost Inventory:January 19900$8.80Purchases:June 1890007.00November 858006.00 A physical inventory on December 31 shows 4000 units on hand.

Sheffield Company's inventory records show the following data:

UnitsUnit CostInventory:January 19900$8.80Purchases:June 1890007.00November 858006.00

A physical inventory on December 31 shows 4000 units on hand. Sheffield sells the units for $15 each. The company has an effective rate of 18%. Sheffield uses the periodic inventory method. If the company uses FIFO, what is the gross profit for the period?

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