The following transactions occured during 2014 for Dylex Corporation which uses a perpetual inventory system : (a) April 1: Dylex Corporation's merchandise that cost $4,400 was sold to XYZ Corporation for $5,500 under credit terms of 2/30, n/60, FOB shipping point. (b) April 3: Dylex Corporation purchased merchandise on credit from Gulf Corp., terms n/60, $6,900, FOB shipping point. (c) April 4: Dylex Corporation sold merchandise that cost $7,600 to Segura Corporation for $9,500 under credit terms of 2/15, n/90, FOB shipping point. (d) April 4: Paid $200 for freight charges for the April 3 purchase of merchandise. (e) April 5: Dylex Corporation purchased merchandise from United Corporation for $9,200 under credit terms of n/60, FOB destination. (f) April 7: Dylex Corporation purchased merchandise from Ludwig Inc. for $5,800 cash, FOB destination. (9) April 7: XYZ Corporation requested a price reduction on the April 1 sale because the merchandise did not meet specifications. Sent XYZ Corporation a credit memorandum for $900 to resolve the issue. (h) April 7: Received a credit memorandum in the amount of $400 acknowledging the return of merchandise purchased from Gulf Corp. on April 3. (i) April 19: Received Segura Corporation's payment of the amount due from the April 4 sale. (i) May 1: Received XYZ Corporation's payment of the amount due from the April 1 sale. (k) June 2: Paid Gulf Corp. the amount due from the April 3 purchase. (1) June 4: Paid the balance due to United Corporation. a) Calculate the net sales for Dylex Corporation during 2014: Net Sales: b) Calculate the cost of goods sold for Dylex Corporation during 2014: Cost of Goods Sold