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Janice Martin sells Avon products. This is the second year that she has operated the business. The beginning inventory on January 1 was $725. The

Janice Martin sells Avon products. This is the second year that she has operated the business. The beginning inventory on January 1 was $725. The ending inventory on December 31 was $1,125. Her records contain the following information regarding her sales and purchases. Calculate the cost of goods sold and gross profit for Ms. Martin's business.

Sales to Customers $5,497

Total Purchases $2,458

UPS Charges (receiving purchases)$ 375

Personal Use Items $ 625

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