Exercise 5-18 a-b (Part Level Submission)

On January 1, 2020, Whispering Winds Corp. had inventory of $54,500. At December 31, 2020, Whispering Winds had the following account balances.

Freight-in		$ 4,500
Purchases		510,000
Purchase discounts		7,350
Purchase returns and allowances		3,700
Sales revenue		808,000
Sales discounts		5,900
Sales returns and allowances		11,100

At December 31, 2020, Whispering Winds determines that its ending inventory is $64,500.

(a)

Compute Whispering Windss 2020 gross profit.

Gross profit

$