QUESTION 40 Using the information below, calculate gross profit for the period: Beginning Raw Materials Inventory Ending Raw Materials Inventory Beginning Work in Process Inventory Ending Work in Process Inventory Beginning Finished Goods Inventory Ending Finished Goods Inventory S 25,000 30,000 55,000 64,000 80,000 67,000 540,000 1,254,000 232,000 Cost of Goods Sold for the period Sales Revenues for the period Operating Expenses for the period $714,000 $482,000. $1,022,000. $187,000. $727,000