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Sprint Shoes Inc. had a beginning inventory of 9,050 units on January 1, 20X1. The costs associated with the inventory were: $11.00 per unit Material

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Sprint Shoes Inc. had a beginning inventory of 9,050 units on January 1, 20X1. The costs associated with the inventory were: $11.00 per unit Material Labor Overhead 6.00 per unit 4.10 per unit During 20X1, the firm produced 42600 units with the following costs: Material $13.50 per unit Labor Overhead 5.80 per unit 6.30 per unit Sales for the year were 47.270 units at $40.60 each. Sprint Shoes uses LIFO accounting 6. What was the gross profit? (Do not round Intermediate calculations.) Gross profit Material $13.50 per Labor Overhead unit 5.80 per unit 6.30 per unit Sales for the year were 47,270 units at $40.60 each. Sprint Shoes uses LIFO accounting a. 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

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