Gross profit and ending inventory

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Gross profit and ending inventory [LO2] The Bradley Corporation produces a product with the following costs as of July 1, 2014: Material $ 4 per unit Labor 4 per unit Overhead 2 per unit Beginning inventory at these costs on July 1 was 4,250 units. From July 1 to December 1, 2014, Bradley produced 14,500 units. These units had a material cost of $2, labor of $4, and overhead of $2 per unit. Bradley uses LIFO inventory accounting. a. Assuming that Bradley sold 18,000 units during the last six months of the year at $13 each, what is its gross profit ? Gross profit $ b. What is the value of ending inventory?

Reference no: EM131302412

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