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 Sales Selling Expenses $ 23,000 28,000 51,000 60,000 76,000 63,000 520,000 1,214,000 212,000 Multiple Choice $694,000. $482,000. $707.000