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	$264,610
Selling expenses	88,390
Administrative expenses	46,730
Sales	563,010
Finished goods inventory, January 1	63,620
Finished goods inventory, January 31	57,990

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
		$
Operating expenses:
	$
Total operating expenses
		$