Precious, Inc. is a merchandiser of a single line of golden rings. At the beginning of the day, the shop had 10 rings in its inventory. During the day, 4new rings were delivered to the shop. By close of business, only8rings remained in inventory.The purchase price of each ring from the supplier is$245.In addition, the company pays $5 for shipping and delivery insurance on each ring that they purchase.

What is the company’s Gross Profit for the day if it sells each ring for $606?