Question sy 1 pts On 1/1/X1, Stevie Co. began the year with $200,000 of inventory, $50,000 of supplies, and $250,000 of land on which it plans to build administrative offices. During the year 20X1, the company purchased $400,000 of inventory, then returned $30,000 of it because it was defective, purchased $80,000 of supplies. and purchased another $10,000 of land. As of 12/31/X1 Stevie Co. reported ending inventory of $100,000, supplies of $8,000, and land of $260,000. Its net sales for the year were $1,300,000 Compute Stevie Co's gross profit: $470,000 $500,000 $800,000 O $830,000 Question in 1 pts