From the following, calculate a. net sales, b. cost of goods sold, c. gross profit, and d.

Question:

From the following, calculate a. net sales, b. cost of goods sold, c. gross profit, and d. net income:
Data Sales, $22,000; Sales Discounts, $500; Sales Returns and Allowances, $250; Beginning Inventory, $650; Net Purchases, $13,200; , $510; Operating Expenses, $3,600.
Ending Inventory
The ending inventory is the amount of inventory that a business is required to present on its balance sheet. It can be calculated using the ending inventory formula Ending Inventory Formula =...