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Sprint Shoes Inc. had a beginning inventory of 9,800 units on January 1, 20X1. The costs associated with the inventory were: Material $11.00 per unit

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Sprint Shoes Inc. had a beginning inventory of 9,800 units on January 1, 20X1. The costs associated with the inventory were: Material $11.00 per unit Labor 6.00 per unit Overhead 4.10 per unit During 20X1, the firm produced 44,100 units with the following costs: Material Labor Overhead $16.50 per unit 8.80 per unit 9.30 per unit Soles for the year were 47,570 units at $41,60 each. Sprint Shoes uses LIFO accounting. a. What was the gross profit? (Do not round Intermediate calculations.) Gross profit Sales for the year were 47,570 units at $41.60 each. Sprint Shoes uses LIFO accounting. a. What was the gross profit? (Do not round Intermediate calculations.) Gross profit ces b. What was the value of ending inventory? (Do not round Intermediate calculations.) Ending inventory

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