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Sprint Shoes Inc. had a beginning inventory of 9,900 units on January 1, 20X1. The costs associated with the inventory were: Material $ 13.00 per

Sprint Shoes Inc. had a beginning inventory of 9,900 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 firmproduced 44,300 units with the following costs:

Material $ 16.50 per unit
Labor 9.80 per unit
Overhead 8.30 per unit

Sales for the year were 47,610 units at $43.00 each. Sprint Shoesuses LIFO accounting.

a.What was the gross profit?(Do not round intermediate calculations.)

b.What was the value of ending inventory?(Do not round intermediate calculations.)

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