Given the information below, what is the gross profit? A. $250,000 B. $50,000 C. $220,000 D. $70,000 Nixa Company has the following information for their inventories A, B, C, and D: The necessary journal entry associated with the lower-of-cost-or-market method (by items) would be: Anthony Corporation reported the following amounts for the year: Anthony's inventory turnover ratio is: A. 2.42. B. 2.76. C. 3.21. D. 2.14