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LO1, 2 M5-17. Estimating Revenue Recognition with Right of Return CLOTH ModCloth Inc. offers an unconditional return policy. It normally expects 2% of sales at
LO1, 2 M5-17. Estimating Revenue Recognition with Right of Return CLOTH ModCloth Inc. offers an unconditional return policy. It normally expects 2% of sales at retail selling prices to be returned before the return period expires. Assuming ModCloth records total sales of Sio million for the current period, what amount of net sales should it record for this period? IBC 03 NC
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