Prior to taking a physical inventory at year‑end, the perpetual inventory records of Athena Designs showed an inventory of $26,000, sales of $358,000, and a cost of goods sold of $215,000. The year‑end physical inventory indicated merchandise on hand costing $24,000. The company’s gross profit for the year was:
a $334,000.
b $145,000.
c $141,000.
d Some other amount.
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