Item	Amount
Beginning Inventory	$1,000,000
Purchases	$1,160,000
Ending Inventory	$1,010,000
Sales	$9,200,000
Sales Returns and Allowances	$215,000
Freight-In	$390,000
Purchase Discounts	$195,000
Purchase Returns and Allowances	$98,000

Calculate the following:

1. Cost of Goods Sold (COGS)
2. Gross Profit
3. Net Sales
4. Gross Profit Percentage (Gross Profit as a percentage of Net Sales)
5. Inventory Turnover (Cost of Goods Sold divided by Average Inventory)
6. Average Inventory