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1- Joe's Auto Shop has the following annual information: Gross Sales, $719,000; Net Sales, $694,000; Gross Profit, $454,000. What are the shops returns and allowances?

1- Joe's Auto Shop has the following annual information: Gross Sales, $719,000; Net Sales, $694,000; Gross Profit, $454,000. What are the shops returns and allowances?

2- Heavenly Coffee Shop has the following annual information: Gross Sales, $280,000; Net Sales, $226,000; Gross Profit, $163,000. What is the shops cost of goods sold?

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