Selected accounts from the accounting records of Miller Windows had the balances shown below at December $31,2023.$ Miller Windows uses the periodic invento

$($Click the icon to view the accounts.$)$

Required

Show the computation of MillerWindows' net sales, cost of goods sold, and gross margin for the year ended December$31,2023.$

Sal Nicholsthe proprietor of MillerWindows, strives to earn a gross margin percentage of $25$ percent. Did he achieve this goal?

Did the rate of inventory turnover reach the industry average of $3\mathrm{.}8$ times per year?

Requirement $1.$ Show the computation of Miller Windows' net sales, cost of goods sold, and gross margin for the year ended December $31,2023.$

Begin by determining net sales, and then continue with the calculation through to cost of goods sold and finally gross margin.

Cost of goods fold

Less: $$

$$

$$

Net sales revenue