Required:

Calculate (ignore "taxes"):

a. Sales

B. Initial inventory

C. general and administrative expenses

Los siguientes datos se toman del Estado de Ingresos y Gastos de la Universidad Metropolitana: (The following data was taken from the Metropolitan University, Inc. Income Statement:): Cost of goods sold $30,000 Purchase returns and allowances 1,500 Sales returns and allowances 3,750 Gross profit 25,000 Selling expenses 9,000 Net income 10,750 Transportation-in 1,250 Purchases 35,000 Ending inventory 8,790