Using the information below, calculate gross profit for the period: Beginning Raw Materials Inventory$ $24,500$Ending Raw Materials Inventory$29,500$Beginning Work in Process Inventory$54,000$Ending Work in Process Inventory$63,000$Beginning Finished Goods Inventory$79,000$Ending Finished Goods Inventory$66,000$Cost of Goods Sold$535,000$Sales$1,244,000$Selling Expenses