Brainiac Toys Inc. uses a perpetual inventory system. Brainiac has the following account balances at December 31, 2020, prior to making any year-end adjustments: Inventory 18,000 Cost of goods sold 84,000 Sales revenue 135,000 At the end of December 31, 2019, the net realizable value of Brainiac's ending inventory was $17,000 which exceeded its cost of $14,700. Brainiac has determined that the net realizable value of its ending inventory at December 31, 2020, is $15,200. Required: Calculate Brainiac Toys Inc.'s gross profit for the year ended December 31, 2020. Answer: