Sprint Shoes Inc. had a beginning inventory of 9,400 units on January 1, 20X1.

The costs associated with the inventory were:

Material $ 13.00 per unit

Labor 8.00 per unit

Overhead 6.10 per unit

During 20X1, the firm produced 43,300 units with the following costs:

Material $ 14.50 per unit

Labor 6.80 per unit

Overhead 7.30 per unit

Sales for the year were 47,410 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: ________________