Barger-Volvov Company Had the Following Information at December 31, 2020

Multiple Choice

Barger-Volvov Company had the following information at December 31, 2020: $\begin{array}{cc} \text { Finished goods inventory, January 1,2020 } &\$15,000\\ \text { Finished goods inventory, December 31, 2020 } &\$21,000\\\end{array}$
If the cost of goods manufactured during the year amounted to $332,500 and annual sales were $499,000, how much is the amount of gross profit for the year?

A) $166,500
B) $151,500
C) $326,500
D) $172,500