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Jerrico Wallboard Co. had a beginning inventory of 9,700 shoes on January 1,20xx. The costs...

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Accounting

Jerrico Wallboard Co. had a beginning inventory of 9,700 shoes on January 1,20xx. The costs associated with the inventory were as
follows:
During 20XX, the firm produced 43,900 units with the following costs:
Material $14.50 per shoe
Labour ,6.80 per shoe
Overhead ,7.30 per shoe
Sales for the year were 47,530 units at $39.60 each. Jerrico uses average cost accounting.
a. What was the gross profit? (Do not round intermediate calculations. Round your answer to nearest whole dollar.)
Gross profit $
b. What was the value of ending inventory? (Do not round intermediate calculations. Round your answer to nearest whole dollar.)
Ending inventory
image

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