The following transactions occured during 2014 for Zoom Inc. which uses a perpetual inventory system a) May 1: Zcom Inc.'s merchandise was sold to Weber Inc. for $7,500 cash. The merchandise cost $6,000. (b) May 1: Zoom Inc. purchased merchandise from Vision Consulting Inc. for $7,100 under credit terms of n/60, FOB shipping point. (c) May 2: Paid $300 for freight charges for the May 1 purchase of merchandise. (d) May 5: Zcom Inc. sold merchandise to Holden Corp. for $9,300 under credit terms of 2/30, n/90, FOB shipping point. The merchandise had cost $7.440. (e) May 6: Zcom Inc. purchased merchandise on credit from Ludwig Inc., terms n/60, $8,300, FOB destination. (f) May 6: Issued a $700 credit memorandum to Holden Corp. for an allowance on goods sold on May 5. (g) May 8: Zoom Inc. sold merchandise that cost $3,680 to Velor Inc. for $4,600 under credit terms of 2/30, n/60, FOB shipping point.. (h) May 12: Received a credit memorandum in the amount of $700 acknowledging the return of merchandise purchased from Ludwig Inc. on May 6. (i) June 4: Received the balance due from Holden Corp. for the sale dated May 5. 6) June 7. Received Velor Inc.'s payment of the amount due from the May 8 sale. (k) June 30: Paid the balance due to Vision Consulting Inc. (1) July 5: Paid the amount due to Ludwig Inc. for the May 6 purchase. a) Calculate the net sales for Zoom Inc. during 2014: Net Sales b) Calculate the cost of goods sold for Zoom Inc. during 2014: Cost of Goods Sold