Determine gonzalezs-cost of goods sold and gross profit

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Reference no: EM13528522

The following information is available for Gonzalez Manufacturing Company for the month ending March 31, 2010:

Cost of goods manufactured .........................$240,000
Selling expenses ........................................ 76,500
Administrative expenses .............................. 40,500
Sales ..................................................... 486,000
Finished goods inventory, March 1 ................. 54,000
Finished goods inventory, March 31 ............... 50,000

For the month ended March 31, 2010, determine Gonzalez's

(a) Cost of goods sold,

(b) Gross profit, and

(c) Net income.

Reference no: EM13528522

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