Using the information below, calculate gross profit for the period. Beginning Raw Materials Inventory $20,000 Ending Direct Materials Inventory $25,000 Beginning Work in Process Inventory $45,000 Ending Work in Process Inventory $54,000 Beginning Finished Goods Inventory $70,000 Ending Finished Goods Inventory $57,000 Cost of Goods Sold for the period $490,000 Sales revenues for the period $1,154,000 Operating expenses for the period $182,000