Sampson, Inc. had a beginning inventory of 10,000 units on January 1, 2009. The costs associated were :
Material $15.00 per unit
Labor $5.00 per unit
Overhead $10.00 per unit
During 2009, Sampson produced 36,000 units with the following costs:
Material $16.00 per unit
Labor $6.00 per unit
Overhead $11.00 per unit
Sales for the year were 38,000 units at $40.00 each. Samspon uses LIFO accounting. What is the gross profit, and the value of ending inventory?