Sales $60.000, $42,000, $36,000 $? $23,600
Cost of Goods Sold
Merchandise inventory (beginning) $6000 $17050 $7500 $7000 $2560
Total cost of merchandise purchases $36,000?? $32,000, $5,600
Merchandise inventory (ending)? (2,700), (9,000) (6,000),
Cost of goods sold $34,050, $15,900,? 5,600
Gross Profit?? 3,750, 45,600,
Expenses $9,000, 10,650, 12,150, 2,600, 6000
Net income (loss) $? $15950, $(8400), $43,000, $?

COGS = Beginning Inventory + Purchases - Ending Inventory

Ending Inventory = Beginning Inventory + Purchases - COGS

Purchases = COGS - Beginning Inventory + Ending Inventory

Gross Profit = Sales - COGS

Net Income = Gross Profit - Expenses