Sheridan Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Units Per unit price Total Balance, 1/1/20 250 $6.00 $1500 Purchase, 1/15/20 140 5.50 770 Purchase, 1/28/20 140 5.60 784 An end of the month (1/31/20) inventory showed that 190 units were on hand. If the company uses FIFO and sells the units for $12 each, what is the gross profit for the month?

Sheridan Company uses a periodic inventory system. Details for the inventory account for the month of January, 2020 are as follows: Per Units unit price Total Balance, 1/1/20 250 $6.00 $1500 Purchase, 1/15/20 140 5.50 770 Purchase, 1/28/20 140 5.60 784 An end of the month (1/31/20) inventory showed that 190 units were on hand. If the company uses FIFO and sells the units for $12 each, what is the gross profit for the month? O $1360 O $1500 O $2085 O $2006