Sec 11

Using the information below, calculate gross profit for the period:

Beginning Raw Materials Inventory Ending Raw Materials Inventory Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory Cost of Goods Sold for the period Sales revenues for the period Operating expenses for the period $ 26,000 31,000 57,000 66,000 82,000 69,000 550,000 1,274,000 242,000 Multiple Choice $737,000 $151,000 $1,032,000 $724,000 $482,000