Business, 20.11.2020 05:00 romanbattistelli23

Sprint Shoes Inc. had a beginning inventory of 9,300 units on January 1, 20X1. The costs associated with the inventory were Material $ 11.00 per unit
Labor 6.00 per unit
Overhead 4.10 per unit

During 20X1, the firm produced 43,100 units with the following costs:

Material $ 16.50 per unit
Labor 9.80 per unit
Overhead 8.30 per unit

Sales for the year were 47,370 units at $45.00 each. Sprint Shoes uses LIFO accounting.

a. What was the gross profit? (Do not round intermediate calculations.)

b. What was the value of ending inventory? (Do not round intermediate calculations.)

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Sprint Shoes Inc. had a beginning inventory of 9,300 units on January 1, 20X1. The costs associated...