(Answered) Question - the following information is available for

Accounting

Question - The following information is available for Renteria Manufacturing Company for the month ending March 31, 2008:

Cost of goods manufactured $265,000

Selling expenses 85,000

Administrative expenses 45,000

Sales 540,000

Finished goods inventory, March 1 60,000

Finished goods inventory, March 31 55,000

For the month ended March 31, 2008 determine Renteria's:

1. Cost of goods sold

2. Gross profit

3. Net income

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