To compute the cost of goods sold (COGS) for the year, we first need to determine the net sales. We can do this by using the provided net income as a percentage of net sales, which is 10%.\ \ Given that net income is 10% of net sales, and the net income is $180,000, we can calculate the net sales as follows:\ \ Net Sales\ =\ Net Income\ Percentage of Net Sales\ =\ $\ 180\ ,\ 000\ 10\ %\ Net Sales= \ Percentage of Net Sales\ Net Income\ \ = \ 10%\ $180,000\ \ \ Once we have the net sales, we can determine the cost of goods sold using the gross profit. Gross profit is calculated as:\ \ Gross Profit\ =\ Net Sales\ \ COGS\ Gross Profit=Net SalesCOGS\ Given the gross profit of $580,821, we can rearrange the formula to solve for COGS:\ \ COGS\ =\ Net Sales\ \ Gross Profit\ COGS=Net SalesGross Profit\ Let's calculate the COGS.\ \ The cost of goods sold (COGS) for the year ended December 31, 2022, is $1,219,179.