Item	Amount
Beginning Inventory	$460,000
Purchases	$620,000
Ending Inventory	$470,000
Sales	$3,800,000
Sales Returns and Allowances	$80,000
Freight-In	$120,000
Purchase Discounts	$60,000
Purchase Returns and Allowances	$44,000

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