At May 1, 2010, Heineken Company had beginning inventory consisting of 100 units with a unit cost of $7. During May, the company purchased inventory as follows:
Extended Cost
May 01 Beginning Inventory 100 units @ $7 $ 700
May 05 Purchased inventory 200 units @ $7 $ 1,400
May 14 Purchased inventory 300 units @ $8 $ 2,400
Totals 600 units at total extended cost of $4,500 = $7.50 Average Cost Per Unit
Heinken Company sold 500 units during the month for $12 per unit. Heineken uses the average cost method. Heinekin's GROSS PROFIT for the month of May is?