Indigo Distributors uses the periodic inventory system.

Indigo reported these amounts at March 31, 2023:

Accounts

	Inventory, March 31, 2022. . . . . .	$39,000
	Inventory, March 31, 2023. . . . . .	35,000
	Purchases (of inventory). . . . . . .	102,000
	Purchase Discounts. . . . . . . . . . .	3,600
	Purchase Returns. . . . . . . . . . . . .	15,000
	Freight-in. . . . . . . . . . . . . . . . . . . .	20,000
	Sales Revenue. . . . . . . . . . . . . . .	340,000
	Sales Discounts. . . . . . . . . . . . . .	4,200
	Sales Returns. . . . . . . . . . . . . . . .	6,400

Indigo Distributors':a. Net sales revenueb. Cost of goods soldc. Gross margin

a. Net sales revenue.Use the format below to calculate net sales revenue.

Less:
Net sales revenue

Part 2b. Cost of goods sold.We need to use a formula to determine cost of goods sold. First complete the section up to net purchases, and then complete the remainder, as presented.

Cost of goods sold:
Less:
Net purchases

Part 3

Less:
Cost of goods sold

Part 4

c.

Determine the company's gross margin:

The gross margin at March 31, 2023 is