Practice At the beginning of 20C, Bay Inc. reports inventory of $6,000. During 20C, the company purchases additional inventory for $29,000. At the end of 20C, the cost of inventory remaining is $8,000. The company's sales revenue for the year wac $45000 and thev had $500 of sales discounts. Calculate Net sales: Calculate Goods available for sale: Calculate cost of goods sold: Calculate gross profit: Gross Profit Ratio (AKA Gross Profit Margin): Vertical Analysis (Chapter 12) Common sized Income Statement (Net sales is the common denominator)