Question
Beginning direct materials....................................$25,000 ending direct materials.........................................30,000 beginning goods in process......................................55,000 ending goods in process...........................................64,000 beginning finished goods........................................80,000 ending finished goods...........................................67,000 cost of goods sold for
Beginning direct materials....................................$25,000
ending direct materials.........................................30,000
beginning goods in process......................................55,000
ending goods in process...........................................64,000
beginning finished goods........................................80,000
ending finished goods...........................................67,000
cost of goods sold for the period..............................1.254,000
operating expenses for the period............................232,000
Refer to the figure above. Calculate gross profit for the period in question.
a. $714,000
b. $482,000
c. $1,022,000
d. $187,000
e. Cannot be determined from the information provided.
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