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

Selling expenses

Administrative expenses

Sales

Finished goods inventory, January $1$

Finished goods inventory, January $31$

$$168,700$

$56,350$

$29,790$

$358,940$

$40,560$

$36,970$

a$.$ For the month ended January $31,$ determine Bandera Manufacturing's cost of goods sold.

Bandera Manufacturing

Company

Cost of Goods Sold

January $31$

Costs Type

Amount

$$ $ $$

$$

$$

$$

$$

$=$$

b$.$ For the month ended January $31,$ determine Bandera Manufacturing's gross profit.