Question
Andreas Fashions sold merchandise for $190,000 cash during the month of July. Returns that month totaled $4,000. If the companys gross profit rate is 40%,
Andreas Fashions sold merchandise for $190,000 cash during the month of July. Returns that month totaled $4,000. If the companys gross profit rate is 40%, Andreas will report monthly net sales revenue and cost of goods sold of
A. $190,000 and $114,000
B. $186,000 and $74,400
C. $186,000 and $111,600
D. $190,000 and $111,600
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Financial Accounting The Impact On Decision Makers
Authors: Gary A. Porter, Curtis L. Norton
6th Edition
0324655231, 978-0324655230
