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

Beginning Raw Materials Inventory $ 24,000

Ending Raw Materials Inventory

29,000

Beginning Work in Process Inventory 53,000

Ending Work in Process Inventory 62,000

Beginning Finished Goods Inventory 78,000

Ending Finished Goods Inventory

65,000

Cost of Goods Sold

530,000

Sales

1,234,000

Selling Expenses

222,000

O $704,000.

O $482,000.

O $1,012,000.

O $171,000.

O $717,000.

Using the information below, calculate gross profit for the period: $704,000. $482,000. $1,012,000. $171,000. $717,000