AB Ltd.s gross sales was $9,200, net sales account for an average 10% discount on all items sold and 5% of items were returned during the year. Also during the year the cost of goods sold was $8,453.

Required 1: If beginning and ending inventory are zero (Just in time), ABs net purchases for the period must have been: $

Required 2: ABs Sales Returns and Allowances for the period must have been: $

Required 3: ABs Sales Discounts for the period must have been: $

Required 4: ABs Net Sales for the period must have been: $

Required 5: ABs Gross Profit on Sales in dollars for the period must have been (in case of negative, then use "-" (minus sign) before the number):