Using the following information, what is the amount of gross profit? Purchases $36,000 Merchandise inventory, September 1 6.600 Selling expense 1,750 Merchandise inventory, September 30 7,400 Sales 91,000 Interest expense 1,340 Administrative expense 1,210 Rent revenue 2,100 The following units of an inventory item were available for sale during the year: Unit Unit Cost Beginning inventory 11 $55 First purchase 25 60 Second purchase 33 65 Third purchase 18 70 The firm uses the periodic inventory system. During the year, 60 units of the item were sold. The value of ending inventory using FIFO is The following units of an inventory item were available for sale during the year: Unit Unit Cost Beginning inventory 12 First purchase 28 60 Second purchase 35 65 Third purchase 18 70 The firm uses the periodic inventory system. During the year, 63 units of the item were sold. The value of ending inventory using LIFO is Uni Unit Cost Beginning inventory 14 SSS First purchase 28 60 Second purchase 32 65 Third purchase 16 70 The firm uses the periodic inventory system. During the year, 62 units of the item were sold. The value of ending inventory rounded to nearest dollar using average cost is