he journal entries of Royal Fashion Distributors$,$ a$$ wholesaler, can be found below. These transactions took place during the month of June $2023.$

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Calculate cost of goods sold and gross profit assuming ending inventory is $$$$11$ comma $000$ and beginning inventory was$$ $$0.$ Royal Fashion Distributors uses a periodic inventory system.

Question content area bottom

Part $1$

Begin by selecting the$$ formula, and then enter the amounts to determine cost of goods sold. $($Be sure to complete all answer boxes. If an account has a zero$$ balance, be sure to enter$"0.")$

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Cost of Goods Sold

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Part $2$

$$Next$,$ select the$$ labels, and then enter the amounts into the formula to determine gross profit.

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Gross Profit

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