You work for a wholesale firm which distributes a single product. $57,600 is the value for opening inventory (1 Oct 2020). Closing inventory valuation conducted on 31 October 2020, $80 640 Purchases during the month were: 9 October 1,140 units @ 145 each 15 October 1,310 units @ 150 each Time left 1:54:43 24 October 620 units@ 155 each Sales during the month were: Date Number of items selling price per item $ 205 220 12 October 1,040 21 October 1,840 The other cost besides the purchases were: Wages of staff $44,700; Premises expenses$ 42,750; Administrative expenses $13,620; Selling and marketing costs $17,890; Carriage inwards $3,750; Carriage outwards $4,120 and Depreciation $11,250 The gross profit reported for the month of October is