Taylor Company had the following information at December 31: Finished goods inventory, January 1$80,000 Finished goods inventory, December 31115,000 If the cost of goods manufactured during the year amounted to $1,895,000 and annual sales were $2,864,000, how much is the amount of gross profit for the year?

Select one:

A. $1,860,000B. $1,004,000C. $1,975,000D. $1,024,000E. None of the above