The following information is available for Vogt Manufacturing Company for the month ending July 31, 2014:
Cost of goods manufactured ......... $ 360,000
Selling expenses .............. 114,750
Administrative expenses ........... 60,750
Sales .................. 729,000
Finished goods inventory, July 1 ....... 81,000
Finished goods inventory, July 31 ........ 75,000
For the month ended July 31, 2014, determine Vogt’s
(a) Cost of goods sold,
(b) Gross profit,
(c) Net income.