X Company uses a perpetual inventory system. The company's beginning inventory and its purchases during the month of December are presented in this table: Date Quantity Unit Cost Selling price Dec. 3 Beginning inventory 35 unit $15 7 Purchase 15 16 13 Purchase 24 17 20 Sale 40 50 30 Sale 30 50 Refer to the above data: Assuming that the company uses the LIFO flow assumption, Gross Profit during December was: * $1,113 $3,500 $2,387 $2,395 None of the above III