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Sprint Shoes Inc. had a beginning inventory of 10,100 units on January 1, 20X1. The costs associated with the inventory were: Material Labor Overhead $
Sprint Shoes Inc. had a beginning inventory of 10,100 units on January 1, 20X1. The costs associated with the inventory were: Material Labor Overhead $ 12.00 per unit 7.00 per unit 5.10 per unit During 20X1, the firm produced 44,700 units with the following costs: Material Labor Overhead $ 16.50 per unit 8.80 per unit 9.30 per unit Sales for the year were 47,690 units at $40.60 each. Sprint Shoes uses LIFO accounting. a. What was the gross profit? (Do not round intermediate calculations.) Gross profit This is a numeric cell, so please enter numbers only. b. What was the value of ending inventory? (Do not round intermediate calculations.) Ending inventory
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