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 $226,150 Selling expenses 75,540 Administrative expenses 39,940 Sales 481,160 Finished goods inventory, 54,370 January 1 Finished goods inventory, 49,560 January 31 a. For the month ended January 31, determine Bandera Manufacturing's 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 v Finished goods inventory, January 31 Cost of goods sold Feedback Check My Work 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 Bandera Manufacturing's gross profit. Bandera 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 Bandera Manufacturing's net income nders Man ct Commanu Cost of finished goods available for sale Finished goods inventory, January 31 v Cost of goods sold Feedback Check My Work . Add the cost of goods manufactured to the beginning finished goods. Subtract the endinng finished goods b. For the month ended January 31, determine Bandera Manufacturing's gross profit Bandera Manufacturing Company Gross Profit January 31 Sales v 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 Bandera Manufacturing's net income. Bandera Manufacturing Company Net Income January 31 Gross profit Operating expenses: Selling expenses Administrative expenses Total operating expenses Net income Feedback Check My Work