Name: Section: Date: Problem solving (60pts) Provide your computations. I. July August Merchandise Inventory, beg Merchandise Inventory, end Net purchases Net sales Operating expenses 1. Gross profit for the month of July: P65,000 70,000 195,000 360,000 113,000 210,000 75,000 135,000 285,000 109,000 2. Cost of sales for the month of August: Net Purchases Merchandise Inventory, end Merchandise Inventory, beg P 285,000 (P 75,000) P 210,000 Activate Windo