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The Bradley Corporation produces a product with the following cost as of July 1, 2011: material($2 per unit), labor($4 per unit), overhead($2 per unit) Beginning inventory at theses costs on July 1 was 3,000 units. From July 1 to December 1, 2011, Bradley produced 12,000 units. Theses units had a material cost of $ 3, labor of $ 5, and overhead of $ 3 per unit. Bradley uses FIFO inventory accounting. Assuming that Bradley sold 13,000 units durning the last six months of the year at $ 16 each, what is its gross profit? What is the value of ending inventory?

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Category:- Basic Finance
Reference No.:- M9865898

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