Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Aricanly Manufacturing Company for the month ending January 31: Cost of goods manufactured $253,250 Selling expenses 84,590 Administrative expenses 44,720 Sales 538,820 Finished goods Inventory, January 1 60,890 Finished goods inventory, January 31 55,500 a. For the month ended January 31, determine Aricanly's cost of goods sold Aricanly Manufacturing Company Cost of Goods Sold January 31 Finished goods Inventory, January 1 Cost of goods manufactured Cost of finished goods available for sale Less finished goods inventory, January 31 Cost of goods sold Feedback Check My Wor a. Add the cost of goods manufactured to the beginning finished goods. Subtract the ending finished goods b. For the month ended January 31, determine Aricanly's gross profit. Aricanly Manufacturing Company Gross Profit January 31 Sales Cost of goods sold Gross profit Feedback Check My Work b. Sales minus cost of goods sold equals gross profit. C. For the month ended January 31, determine Aricanly's net income. Aricanly Manufacturing Company Net Income January 31 Gross profit Operating expenses Selling expenses Administrative expenses Total operating expenses Net income Feedback Check My Work F Check My Work b. Sales minus cost of goods sold equals gross profit. c. For the month ended January 31, determine Aricanly's net income Aricanly Manufacturing Company Net Income January 31 Gross profit Operating expenses Selling expenses Administrative expenses Total operating expenses Net income Feedback Check My Work c. Gross profit minus operating expenses equals net income Feedback Check My Work Partially correct