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	$139,810
Selling expenses	46,700
Administrative expenses	24,690
Sales	297,470
Finished goods inventory, January 1	33,610
Finished goods inventory, January 31	30,640

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	-30640
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	$154690

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

Bandera Manufacturing Company Net Income January 31

Gross profit		$154690
Operating expenses:
Selling expenses	$
Administrative expenses	24690
Total operating expenses
Net income		$