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Gannon Company had the following information at December 31: Finished goods inventory, January 1 - $ 50,000 Finished goods inventory, December 31 - $150,000 Cost

Gannon Company had the following information at December 31: Finished goods inventory, January 1 - $ 50,000 Finished goods inventory, December 31 - $150,000 Cost of goods manufactured - $2,100,000 Sales - $2,750,000 What is the amount of gross profit?

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