Jerrico Wallboard Co. had a beginning inventory of 9,050 shoes on January 1, 20XX. The costs...

 

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Jerrico Wallboard Co. had a beginning inventory of 9,050 shoes on January 1, 20XX. The costs associated with the inventory were as follows: Material $11.00 per shoe 6.00 per shoe 4.10 per shoe Labour Overhead During 20XX, the firm produced 42.600 units with the following costs: Material $13.50 per shoe Labour 5.80 per shoe Overhead 6.30 per shoe Sales for the year were 47,270 units at $40.60 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 Jerrico Wallboard Co. had a beginning inventory of 9,050 shoes on January 1, 20XX. The costs associated with the inventory were as follows: Material $11.00 per shoe 6.00 per shoe 4.10 per shoe Labour Overhead During 20XX, the firm produced 42.600 units with the following costs: Material $13.50 per shoe Labour 5.80 per shoe Overhead 6.30 per shoe Sales for the year were 47,270 units at $40.60 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

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