Sprint Shoes Inc. had a beginning inventory of 9,500 units of January 1, 20X1. The costs associated with the inventory were: What was the gross profit? What was the value of ending inventory?

Sprint Shoes Inc. had a beginning inventory of 9,500 units on January 1, 20X1. The costs associated with the inventory were: Material Labor Overhead $.15.00 per unit 8.00 per unit 7.10 per unit During 20X1, the firm produced 43,500 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 47,450 units at $42.60 each. Sprint Shoes uses LIFO accounting. a. What was the gross profit? (Do not round intermediate calculations.) Gross profit $ 2,021,370 b. What was the value of ending inventory? (Do not round intermediate calculations.) Ending inventory