McKendrick Shoe Store has a beginning inventory of $130,000; purchase returns, $4,000; and freight-in $10,000. A physical count of inventory at the end of the period revealed that $20,000 was still on hand. The cost of goods available for sale was $166,000 $126,000. $136,000. $146.000. Net sales is sales less sales returns. sales returns and allowances. sales discounts and sales returns and allowances. sales discounts. Financial information is presented below: $150.000. $60,000. $110,000. $20,000. After gross profit is calculated, operating expenses are deducted to determine net income. gross profit on sales. net margin. gross margin