Problem:
The gross profit of Crowe Company for the year is $150,000, cost of goods manufactured is $500,000, the beginning inventory of finished goods is $25,000, and the ending inventory of finished goods is $50,000.
Required:
Question 1: Compute the sales revenue for Crowe Company for the year. (Hint: First, determine cost of goods sold.)
Note: Please provide through step by step calculations.