Question
Gross billings for merchandise sold by Lang Company to its customers last year amounted to $12,520,000; sales returns and allowances were $270,000, sales discounts were
Gross billings for merchandise sold by Lang Company to its customers last year amounted to $12,520,000; sales returns and allowances were $270,000, sales discounts were $75,000, and freight-out was $140,000. Net sales last year for Lang Company were
| a. | $12,720,000. | |
| b. | $12,275,000. | |
| c. | $12,175,000. | |
| d. | None of the above. |
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Internal Auditing An Integrated Approach
Authors: Richard E. Cascarino
2nd Edition
0702172693, 978-0702172694
