On April 15, Itellyouwhat Company sold $2,000 of goods to a customer with credit terms 2/10, net/30. On April 18, the customer returned $500 of the goods. On April 24, how much does Itellyouwhat receive as payment in full from the customer? Answer: Neutron Company has the following information for the period: Cost of goods sold $220,000 Sales revenue $600,000 Other expenses and losses $30,000 Operating expenses $250,000 Other revenues and gains $20,000 Sales returns and allowances $40,000 Income tax expense $35,000 How much is Neutron's gross profit? Answer: Dokken Company had the following beginning inventory and made the following inventory purchases in June: Beginning inventory: 150 units at $5.00 per unit = $750 Purchase on June 10: 200 units at $6.00 per unit = $1,200 Purchase on June 15: 200 units at $6.30 per unit = $1,260 Purchase on June 28: 150 units at $6.60 per unit = $990 During June, the business sold 300 units, leaving 400 units on hand. Using the Last-in-first-out (LIFO) inventory method, what is the amount reported for cost of goods sold for June