Cost of Goods Sold, Profit margin, and Net Income for a Manufacturing Company The following information is available for Bandera Manufacturing Company for the month ending January 31: Cost of goods manufactured $323,630 Selling expenses 108,110 Administrative expenses 57,150 Sales 688,570 Finished goods inventory, January 1 77,810 Finished goods inventory, January 31 70,920 For the month ended January 31, determine Bandera's (a) cost of goods sold, (b) gross profit, and (c) net income.

Cost of goods sold = $330,520

Gross profit = $358,050

Net Income = $192,790

Explanation:

Cost of goods sold = Beginning inventory of FG + Cost of goods manufactured - Ending inventory of FG

Cost of goods sold = $77,810+$323,630-$70,920

Cost of goods sold = $330,520

Gross profit = Sales - Cost of goods sold

Gross profit = $688,570 - $330,520

Gross profit = $358,050

Net Income = Gross profit - Selling expenses - Administrative expenses

Net Income = $358,050 - $108,110 - $57,150

Net Income = $192,790

answer; ///i believe the correct answer is(e) complementary to each other;

i think the answer to your question is b. directive