Playerlest.aspx?testid=215185965 8/12/2020 Accounts EX Cash Purchases Freight-in 28,400 207,600 5,900 375,000 Sales Revenue 3,050 Purchases Returns and Allowances Salaries Payable Glen Bamber, Capital Sales Returns and Allowances 4,300 67,100 10,800 wan Inventory: September 30, 2019 September 30, 2020 Selling Expense Equipment Purchase Discounts Accumulated Amortization Equipment Sales Discounts 46,300 50,700 68.800 98,000 es 2,710 18,400 2019 7,400 2020 35.000 General Expenses Accounts Payable Accounts Receivable 29.100 34.700 -Equ Seted accounts from the accounting records of Bamber Imports at September 30, 2020, we shown in the popup. Bamber Imports uses the periodic Inventory system Click the icon to view the accounts.) Required 1. Show the computation of Bamber Imports' net sales, cost of goods sold, and gross margin for the year ended September 30, 2020 2 Glen Bamber, owner of Bamber Imports, strives to earn a gross margin percentage of 41 percent. Did he achieve this goal? 3. Did the rate of inventory turnover reach the industry average of 3.4 times per year? Requirement 1. Show the computation of Bamber Imports' net sales, cost of goods sold, and gross margin for the year ended September 30, 2020 Begin by determining net sales, and then continue with the calculation to cost of goods sold and finally gross margin Less Net sales revenue Cost of goods sold Less Net purchases Choose from any list or enter any number in the input fields and then continue to the next