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, 4 new rings were delivered to the shop. By close of? business, only 8 rings 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??
1) The Gross Profit for the day is $______. (Enter commas where appropriate. For? example, enter? 1,000 and not? 1000.)