The following amounts appeared on the Mendelstein Companys adjusted trial balance as of October 31, 2020, the end of its fiscal year:

A physical count shows that the cost of the ending inventory is $11,800. Required: 1. Calculate the companys net sales for the year. 2. Calculate the companys cost of goods purchased for the year. 3. Calculate the companys cost of goods sold for the year.

Credit Debit $ 1,000 32,000 $ 28, 340 37,015 2,200 110 88,400 6,700 1,045 42,700 Merchandise inventory Other assets Liabilities Joe Mendelstein, capital Joe Mendelstein, withdrawals Interest income Sales Sales returns and allowances Sales discounts Purchases Purchase returns and allowances Purchase discounts Transportation in Sales salaries expense Rent expense, selling space Store supplies expense Advertising expense Office salaries expense Rent expense, office space office supplies expense Totals 1,750 820 4,650 17,000 8,400 2,400 8,200 21,200 6,800 2,140 $156,435 $156,435