Using the Information Below, Calculate Gross Profit for the Period

question 165

Multiple Choice

Using the information below, calculate gross profit for the period: $\begin{array}{lc}\text { Beginning Raw Materials Inventory } & \$ 25,000 \\\text { Ending Raw Materials Inventory } & 30,000 \\\text { Beginning Work in Process Inventory } & 55,000 \\\text { Ending Work in Process Inventory } & 64,000 \\\text { Beginning Finished Goods Inventory } & 80,000 \\\text { Ending Finished Goods Inventory } & 67,000 \\\text { Cost of Goods Sold for the period } & 540,000 \\\text { Sales revenues for the period } & 1,254,000\\\\\text { Operating expenses for the period}&232,000\end{array}$

• A) $1,022,000.
• B) $727,000.
• C) $714,000.
• D) $482,000.
• E) $187,000.

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Definitions:

Millivolts

A unit of electric potential equal to one thousandth of a volt, often used in measuring small voltages.

Absolute Refractory Period

A period immediately following the transmission of an impulse in nerve or muscle in which a neuron or muscle is not responsive to further stimulation.

Neural Impulse

An electrical signal that travels along a neuron's axon, transmitting information throughout the nervous system.

Milliseconds

A unit of time equal to one thousandth of a second, often used to measure very short durations, especially in scientific contexts.