Gannon Company had the following information at December 31: Finished goods inventory, January 1 $ 30,000 Finished goods inventory, December 31 90,000 If the cost of goods manufactured during the year amounted to $1,260,000 and annual sales were $1,650,000, the amount of gross profit for the year is O $450,000. O $1,200,000. O $390,000. O $330,000.

Gannon Company had the following information at December 31: Finished goods inventory, January 1$30,000 Finished goods inventory, December 3190,000 If the cost of goods manufactured during the year amounted to $1,260,000 and annual sales were $1,650,000, the amount of gross profit for the year is $450,000 $1,200,000 $390,000. $330,000. Gannon Company had the following information at December 31: Finished goods inventory, January 1$30,000 Finished goods inventory, December 3190,000 If the cost of goods manufactured during the year amounted to $1,260,000 and annual sales were $1,650,000, the amount of gross profit for the year is $450,000 $1,200,000 $390,000. $330,000