Exercise $19-22($Algo$)$ Computing inventory balances and gross profit LO P$3$

A manufacturer began operations on April $1$ and reports the information below. All jobs are sold for $20\%$ above cost.

Compute the May $31$ balance in $($a$)$ Work in Process Inventory and $($b$)$ Finished Goods Inventory.

Compute gross profit for May.

Answer is complete but not entirely correct.

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Compute gross profit for May.