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How much is the amount of gross profit for the year

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Reference no: EM133113025

Question - Coronado Industries had the following information at December 31:

Finished goods inventory, January 1 $130000

Finished goods inventory, December 31 226000

If the cost of goods manufactured during the year amounted to $1895000 and annual sales were $2994000, how much is the amount of gross profit for the year?

Reference no: EM133113025

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