6 Gannon Company had the following information at December 31: Finished goods inventory, January 1 Finished goods inventory, December 31 $50,000 150,000 10 Points If the cost of goods manufactured during the year amounted to $2,200,000 and annual sales were $2,750,000, the amount of gross profit for the year is $550,000 B) $650,000 $2,100,000 D) $450,000