Presented below are selected transactions for Spike Company during October of the current year. Spike uses a perpetual inventory system.

Oct. 1 Purchased merchandise on account from Kimmel Company at a cost of $52,000, terms 2/10, n/30, FOB shipping point. 2 The correct company paid freight costs of $1,100 on the October 1 purchase. 3 Obtained a purchase allowance (Recorded like a return) of $2,000 from Kimmel Company to compensate for some minor damage to goods purchased on October 1. 10 Paid Kimmel Company the amount owing on the October 1 purchase. 11 Sold all of the merchandise purchased from Kimmel Company to Kieso Company for $83,500, terms 2/10, n/30, FOB shipping point. 12 The correct company paid $800 freight costs on the October 11 sale. 17 Issued Kieso Company a sales allowance (Recorded like a return, without restocking) of $1,500 because some of the goods did not meet Kiesos exact specifications. 31 Received a cheque from Kieso Company for the balance owing on the October 11 sale

5. Record all transactions in a journal

6. Calculate Net Sales for Spike Company

7. Calculate the total COGS for Spike Company

8. Calculate the Gross Profit for Spike Company