Answer the Questions Below Based on the Following Data (In $\begin{array} { l } \text { Purchases}&\$160\\ \text { Beginning inventory}&32\\ \text {Ending inventory }&48\\\end{array}$

Essay

Answer the questions below based on the following data (in 000's): $\begin{array} { l } \text { Purchases}&\$160\\ \text { Beginning inventory}&32\\ \text {Ending inventory }&48\\\end{array}$
(a) What amount of sales would produce a gross margin of 35 percent based on cost of goods sold? $______________________________.
(b) What amount of sales would produce a gross margin of 40 percent based on sales? $______________________________.