Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $258,290 Selling expenses 86,280 Administrative expenses 45,610 Sales 549,560 Finished goods inventory, January 1 62,100 Finished goods inventory, January 31 56,600 a. For the month ended January 31, determine Bandera Manufacturings cost of goods sold. Bandera Manufacturing Company Cost of Goods Sold January 31 Finished goods inventory, January 1 $ Cost of goods manufactured

Cost of finished goods available for sale $ Finished goods inventory, January 31

Cost of goods sold

$b. For the month ended January 31, determine Bandera Manufacturings gross profit.

Bandera Manufacturing Company Gross Profit January 31 Sales $ Cost of goods sold

Gross profit $ c. For the month ended January 31, determine Bandera Manufacturings net income. Bandera Manufacturing Company Net Income January 31 Gross profit $ Operating expenses: Selling expenses $ Administrative expenses Total operating expenses Net income $