Item	Amount
Beginning Inventory	$920,000
Purchases	$1,080,000
Ending Inventory	$930,000
Sales	$8,400,000
Sales Returns and Allowances	$195,000
Freight-In	$350,000
Purchase Discounts	$175,000
Purchase Returns and Allowances	$90,000

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