The following data were taken from the records of Clarkson Company for the fiscal year ended June 30, 2020. CLARKSON COMPANY (Partial) Income Statement Sales Revenue $ Less : Sales Discounts Net Sales $ Cost of Goods Sold Finished Goods Inventory, July 1, 2019 Cost of Goods Manufactured Cost of Goods Available for Sale Less : Finished Goods Inventory, June 30, 2020 Cost of Goods Sold Gross Profit $