Calculate the missing amounts, and place your answers in the spaces provided

Sales $95,000

Sales Returns and Allowances ?-----------------------------------------

Sales Discounts 5,000

Net Sales 80,000

Beginning Inventory 72,000

Purchases ? --------------------------------------

Purchase Returns and Allowances 7,000

Purchase Discounts 2,000

Freight-in 8,000

Net Purchased 65,000

Goods Available for Sale ? ---------------------------------------

Ending Inventory ?---------------------------------------

Cost of Goods Sold 60,000

Gross Margin 20,000

Operating Expenses ? ----------------------------------------

Net Income $5,000

SHOW WORK.