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 $ 26,500 31,500 58,000 67,000 83,000 70,000 555, 0060 1,284, 000 247, 000