Victor Company sells one product. Presented below is information for January for Victor Company.

Jan. 1	inventory	115 units @ $5 each
Jan 4	sale	91 units @ $8 each
Jan 11	Purchase	156 units @ $7 each
Jan 13	Sale	128 units @ $9 each
Jan 20	purchase	155 units @ $7 each
Jan 27	sale	95 units @ $10 each

Victor company uses the FIFO cost flow assumption. All purchases and sales are on account.

Compute gross profit using the periodic system. Gross Profit: $______________

*Please show your work and explain all steps. thank you