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

$217,000$

$$482,000.$

$$712,000.$

$$699,000.$

$$176,000.$

$$1,007,000.$