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What is its gross profit

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The Bradley Corporation produces a product with the following costs as of July 1, 20X1:

Material $4 per unit

Labor 4 per unit

Overhead 2 per unit

Point 1: Beginning inventory at these costs on July 1 was 4,250 units. From July 1 to December 1, 20X1, Bradley Corporation 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.

Question a. Assuming that Bradley Corporation sold 18,000 units during the last six months of the year at $13 each, what is its gross profit?

Question b. What is the value of ending inventory?

Reference no: EM132492950

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