1-Cushman Company had $816,000 in sales, sales discounts of $12,240, sales returns and allowances of $18,360, cost of goods sold of $387,600, and $280,705 in operating expenses. Net income equals:

2-A company has sales of $725,600 and cost of goods sold of $290,600. Its gross profit equals:

3-A company had net sales of $784,800 and cost of goods sold of $560,400. Its net income was $24,770. The company's gross margin ratio equals:

4-A companys normal selling price for its product is $23 per unit. However, due to market competition, the selling price has fallen to $18 per unit. This company's current FIFO inventory consists of 230 units purchased at $19 per unit. Net realizable value has fallen to $16 per unit. Calculate the value of this company's inventory at the lower of cost or market.