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What pop should report gross profit of

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In 2020, Pop Construction Corp. began work on a contract for $3,700,000. Other details follow:

                                                                                     2020

Costs incurred during the year                            $1,800,000

Estimated costs to complete as of December 31     1,200,000

Billings during the year                                     1,650,000

Collections during the year                             975,000

Problem 1: Pop uses the percentage-of-completion method. For calendar 2020, Pop should report gross profit of?

Reference no: EM132822910

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