Question 13 of 24 -12 View Policies Current Attempt in Progress Sheridan Company had the following information at December 31: Finished goods inventory, January 1 Finished goods inventory, December $80000 26000 31 If the cost of goods manufactured during the year amounted to $1895000 and annual sales were $2994000, how much is the amount of gross profit for the year? O $1099000 O $1949000 O $1045000 $1019000 Question 16 of 24 -12 E View Policies Current Attempt in Progress Largo Company has unit costs of $10 for materials and $30 for conversion costs. If there are 2500 units in ending work in process 40% complete as to conversion costs, and fully complete as to materials cost, the total cost assignable to the ending work in process inventory is O $100,000 O $55,000 O $45,000 O $75,000