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

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Accounting

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 525,000
Sales 1,224,000
Selling Expenses 217,000

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