The income statement of Jue's Luggage includes the items listed below:
Net sales..............................................$900,000
Gross profit...........................................315,000
Beginning inventory...............................80,000
Purchase discounts.................................15,000
Purchase returns and allowances..............8,000
Freight-in................................................10,000
Operating expenses...............................300,000
Purchases..............................................560,000
Use the appropriate items listed above as a basis for determining:
(a) Cost of goods sold
(b) Cost of goods available for sale
(c) Ending inventory