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

Beginning Raw Materials Inventory	$ 22,500
Ending Raw Materials Inventory	27,500
Beginning Work in Process Inventory	50,000
Ending Work in Process Inventory	59,000
Beginning Finished Goods Inventory	75,000
Ending Finished Goods Inventory	62,000
Cost of Goods Sold	515,000
Sales	1,204,000
Selling Expenses	207,000

Multiple Choice

• $689,000.

• $997,000.

• $186,000.

• $702,000.

• $482,000.