Based on the data provided what is the gross profit?
Presented below is selected information from the Kudlick Company's current period accounting records (in $000s):
|
Sales
|
$25,000
|
|
Raw Materials Used
|
5,500
|
|
Direct Labor Costs
|
2,000
|
|
Period Costs (Selling and Administrative)
|
5,000
|
|
Beginning Raw Material Inventory
|
600
|
|
Ending Raw Material Inventory
|
2,000
|
|
Net Income
|
600
|
|
Beginning Work-in-Process Inventory
|
0
|
|
Ending Work-in-Process Inventory
|
600
|
|
Beginning Finished Goods Inventory
|
1400
|
|
Ending Finished Goods Inventory
|
800
|