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In 2018, the Wallace Company purchased 83,000 units from its supplier at a cost of...

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Accounting

In 2018, the Wallace Company purchased 83,000 units from its supplier at a cost of $2,400.00 per unit. Wallace sold 90,000 units of its product in 2018 at a price of $3,400.00 per unit. Wallace began 2018 with 8500 units in inventory (inventory is carried at a cost of $2,400.00 per unit). Using this information, compute Wallaces gross profit for 2018.

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