Author Question: Net sales are: a. gross sales less returns and allowances from customers. b. gross sales less cost ... (Read 199 times)

mspears3 · **on:** Jun 29, 2018

Net sales are:
a. gross sales less returns and allowances from customers.
b. gross sales less cost of goods sold.
c. profits less cost of goods sold.
d. cost of goods sold less returns and allowances.
e. gross margin plus fixed expenses.

Question 2

_____ is (are) the retailer's total sales including sales for cash or for credit.
a. Gross margin
b. Operating sales
c. Return sales
d. Gross sales
e. Net sales