D/ On basis of the following data: (7 x 3 pts = 21 pts). Think Logically to solve the following. Purchases 17,000 Sales 34,000- Beginning Inventory 9,000- Purchase return 500- Sales return 1,000- Ending Inventory 8,000- Purchase discount 200- Sales discount 300- Freight in 300 Determine (showing formulas and numbers). 1/Net Sales 2/Net Purchases 3/Cost of Goods purchased (COGP) 4/Cost of Goods Available for Sale (COGAS) 5/Cost of Goods Sold (COGS) 6/Gross profit 7/Gross profit Ratio