Layout References Mailings Review VIEW AO E AL AaBb AaBbccd AaBbccd Aalbo Heading 1 Normal T No Space Heading 2 Pornograph 1 QUESTION 1 - INVENTORY (15 Marks) a) The income statement of Forest Supplies Ltd includes the items listed below: Net sales $800,000 Gross profit on sales 320,000 Beginning inventory 100,000 Discount received 15,000 Purchase returns and allowances 8,000 Freight-in 10,000 Operating expenses 300,000 Purchases 520,000 Required: Use the appropriate items listed above as a basis for determining: 1) Co of sales (1 marks) ii) Cost of goods available for sale (1 marks) INI) Ending inventory (2 marks) Question 1a - Answer 1 20"C