Laramie Electronics produces a wireless home lighting device that allows consumers to turn on home lights from their cars and light a safe path into and through their homes. Information on the first three years of business is as follows:

		2020		2021		2022		Total
Units sold		18,000		18,000		18,000		54,000
Units produced		18,000		22,500		13,500		54,000
Fixed production costs		$810,000		$810,000		$810,000
Variable production costs per unit		$143		$143		$143
Selling price per unit		$262		$262		$262
Fixed selling and administrative expense		$232,500		$232,500		$232,500

Calculate profit and the value of ending inventory for each year using full costing. (Round cost per unit to 2 decimal places, e.g. 15.25 and final answers to 0 decimal places, e.g. 125.)

		2020		2021		2022
Net profit		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places
Ending inventory		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places		$enter a dollar amount rounded to 0 decimal places

eTextbook and Media

Calculate profit and the value of ending inventory for each year using variable costing.

		2020		2021		2022
Net profit		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount
Ending inventory		$enter a dollar amount		$enter a dollar amount		$enter a dollar amount