BTN 56 Best Brands' general ledger and supplementary records at the end of its current period reveal TEAMWORK IN the following- ACTION C1 C2 Reguined 1. Each member of the team is to assume responsibility for computing one of the following items. You ane not to duplicate your teammates' work. Get any necessary amounts to compute your item from the uppropriate teammate. Each member is to explain his or her computation to the team in preparation for reporting to the class. a. Net sales d. Gross profit b. Total cost of merchandise purchases e. Net income Pointr ln toams of forrarinor the c. Cost of goods sold iame studente und a Rotate teama for roporthg on z dlferent compuration and the andyes ia stup 3. 2. Check your net income with the instructor. If correct, proceed to step 3. 3. Assume that a physical inventory count finds that actual ending inventory is $38,000. Discuss how this affects previously computed amounts in step 1