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	$251,170
Selling expenses	83,900
Administrative expenses	44,360
Sales	534,400
Finished goods inventory, January 1	60,390
Finished goods inventory, January 31	55,040

a. For the month ended January 31, determine Bandera Manufacturings cost of goods sold.

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.

Sales	$
Cost of goods sold
Gross profit	$

c. For the month ended January 31, determine Bandera Manufacturings net income.

Gross profit		$
Operating expenses:
Selling expenses	$
Administrative expenses
Total operating expenses
Net income		$