1. amount of operating expenses

2. amount of COGS

3. amount of goods available for sale

4. amount of inventory, 13/31/20

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Question 53 For the year ended December 31, 2020, LIVERPOOL Company reported the following amounts: Inventory, 1/1/20 Inventory, 12/31/20 Purchases Purchase Discounts the Freight In Freight Out Purchase Returns and Allowances Sales Discounts Net Income P307,900 ? 1,000,000 5,000 112,000 55,900 44,000 37,960 142,125 Net income is 7.50% of net sales. On the other hand, gross profit is 40% of the net sales. Determine the amount of operating expenses