Marked out of Opening balances were: Time left 1:01:17 10.00 Raw Materials $20,000 Flag question Work in Process $36,000 Finished Goods $68, 000 Closing balances were: Raw Materials $22,000 Work in Process $42,000 Finished Goods $76,000 Other production cost details: Made raw materials purchases of: $148,000 Incurred conversion costs as follows: Direct factory labour: $112,000 Manufacturing overheads: $224,000 Sales for the period were: $615, 789 Required: Calculate and enter ONLY the PERCENTAGE Gross profit amount only as your answer. ROUND to the nearest whole percentage number. e.g. If you calculate 20.55% then enter 21% or if you calculate 20.001% then enter 20% (include the '%' sign.) Note, you may use a BLANK COGM/COGS Schedule Template to assist you calculate if you wish