Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Gonzalez Manufacturing Company for the month ending July 31, 2016: Cost of goods manufactured $176,360 Selling expenses 58,910 Administrative expenses 31,140 Sales 375,240 Finished goods inventory, July 1 42,400 Finished goods inventory, July 31 38,650 For the month ended July 31,016, determine Gonzalez's (a) cost of goods sold, (b) gross profit, and (c) net income. (a) Gonzalez Manufacturing Company Cost of Goods Sold July 31, 2016 Finished goods inventory, July 1, 2016 Cost of goods manufactured Feedback (b) Gonzalez Manufacturing Company Gross Profit July 31, 2016 (c) Feedback Check My Work b. Sales minus cost of goods sold equals gross profit Learning Objective 3. Gonzalez Manufacturing Company Leaming Objective 3. (c) Operating expenses: Gonzalez Manufacturing Company Net Income July 31, 2016 Total operating expenses Feedback Check My Work