Question
On November 1, 2019, Alpha Omega, Inc. sold merchandise for $10,000,FOB destination, with payment terms, n/30. The cost of goods sold was $3,000. On November
On November 1, 2019, Alpha Omega, Inc. sold merchandise for $10,000,FOB destination, with payment terms, n/30. The cost of goods sold was $3,000. On November 3, the customer returns on this sale amounted to$4,000.The company received the balance on November 9, 2019. Calculate the cost of goods sold from these transactions.
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Accounting Tools For Business Decision Making
Authors: Paul D. Kimmel, Jerry J. Weygandt, Donald E. Kieso
6th Edition
111919167X, 9781119191674
