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Larrys building supplies c Q 6-9 (of 15) following information apples to the questions Larry's Building Supplies (LBS) is a local hardware store. LBS uses
Larrys building supplies
c Q 6-9 (of 15) following information apples to the questions Larry's Building Supplies (LBS) is a local hardware store. LBS uses a perpetual inventory system. The following transactions (summarized) have been selected for analysis The displayed below a. Sold merchandise for cash (cost of merchandise $289,350) b. Received merchandise returned by customers as unsatisfactory (but in perfect condition) 6 for cash refund (original cost of merchandise $3.500) c Sold merchandise (costing $6,840) to a customer on account with terms 2/10, n/30 d. Collected half of the balance owed by the customer in (c) within the discount period e. Granted a partial allowance relating to credit sales that the customer in (c)had not yet paid. 5,400 11400 5,586 1750 5.00 points Required: 1. Compute Sales Revenue. Net Sales, and Gross Profit for LBS Sales Revenue
Larrys building supplies
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