The Following Information Pertains to Max Corporation What Is the Gross Profit Margin Earned by the Company

Multiple Choice

The following information pertains to Max Corporation: $$\begin{array} { l r } \text { Beginuning work-in-process inventory } & \$ 20,000 \\\text { Ending work-int-process inventory } & 23,000 \\\text { Beginuning finished goods inventory } & 36,000 \\\text { Ending finished goods inventory } & 34,000 \\\text { Cost of goods manufactured } & 246,000 \\\text { Sales } & 300,000\end{array}$$ What is the gross profit margin earned by the company?

A) $52,000
B) $50,000
C) $48,500
D) $53,500