Using the information below, calculate gross profit for the period: Beginning Raw Materials Inventory $ 23,500 Ending Raw Materials Inventory 28,500 Beginning Work in Process Inventory 52,000 Ending Work in Process Inventory 61,000 Beginning Finished Goods Inventory 77,000 Ending Finished Goods Inventory 64,000 Cost of Goods Sold for the period 525,000 Sales Revenues for the period 1,224,000 Operating Expenses for the period 217,000 O $176,000. $699,000. $482,000. $712,000. $1,007,000