Question: Given: Gross sales, $ 1 7 0 , 0 0 0 ; sales returns and allowances, $ 9 , 0 0 0 ; beginning inventory,

Given: Gross sales, $170,000; sales returns and allowances, $9,000; beginning inventory, $8,000; net purchases, $18,000; ending inventory, $5,000; and operating expenses, $56,000.
a. Calculate net sales.
Net sales
b. Calculate cost of merchandise (goods) sold.
Cost of merchandise (goods) sold
c. Calculate gross profit from sales.
Gross profit from sales
Given: Gross sales, $170,000; sales returns and allowances, $9,000; beginning inventory,

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