Using the information below, calculate gross profit for the period:
beginning raw materials inventory$28,500
ending raw materials inventory 33,500
beginning work in process inventory 62,000
ending work in process inventory 71,000
beginning finished goods inventory 87,000
ending finished goods inventory 74,000
cost of goods sold for the period 575,000
sales revenues for the period 1,324,000
operating expenses for the period 267,000
a. $749,000.
b. $482,000.
c. $1,057,000.
d. $126,000.
e. $762,000.