This topic contains a solution. Click here to go to the answer
« previous next »

Author Question: Net sales equals ________. A) sales minus cost of goods sold B) sales minus sales returns and ... (Read 412 times)

bcretired

  • Hero Member
  • *****
  • Posts: 525
on: Jul 5, 2018
Net sales equals ________.
 
  A) sales minus cost of goods sold
  B) sales minus sales returns and allowances minus sales discounts
  C) sales divided by net income
  D) net income divided by sales

Question 2

Assuming that the company uses the perpetual inventory system, determine the gross profit for the sale of May 23using the FIFO inventory cost method.
 a. 108
  b. 120
  c. 72
  d. 180


Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question
Marked as best answer by a Subject Expert

nixon_s

  • Sr. Member
  • ****
  • Posts: 359
Reply #1 on: Jul 5, 2018
Answer to Question 1

B

Answer to Question 2

a


bcretired

  • Member
  • Posts: 525
Reply 2 on: Jul 5, 2018
Thanks for the timely response, appreciate it

kthug

  • Member
  • Posts: 332
Reply 3 on: Yesterday
Wow, this really help

« previous next »
 

Did you know?

The human body's pharmacokinetics are quite varied. Our hair holds onto drugs longer than our urine, blood, or saliva. For example, alcohol can be detected in the hair for up to 90 days after it was consumed. The same is true for marijuana, cocaine, ecstasy, heroin, methamphetamine, and nicotine.

Did you know?

In the United States, congenital cytomegalovirus causes one child to become disabled almost every hour. CMV is the leading preventable viral cause of development disability in newborns. These disabilities include hearing or vision loss, and cerebral palsy.

Did you know?

Intradermal injections are somewhat difficult to correctly administer because the skin layers are so thin that it is easy to accidentally punch through to the deeper subcutaneous layer.

Did you know?

Acetaminophen (Tylenol) in overdose can seriously damage the liver. It should never be taken by people who use alcohol heavily; it can result in severe liver damage and even a condition requiring a liver transplant.

Did you know?

According to the FDA, adverse drug events harmed or killed approximately 1,200,000 people in the United States in the year 2015.

The strange situation. The Strange Situation features a series of episodes in which (a) the mother l The strange situation. The Strange Situation features a series of episodes in which (a) the mother l
Calcium metabolism in osteoporosis: (a) bone deposition equals bone resorption; (b) bone resorption ... Calcium metabolism in osteoporosis: (a) bone deposition equals bone resorption; (b) bone resorption ...
Cost of Going to School Cost of Going to School
If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ... If 0.40 mol of NaN3 reacts completely in the reaction shown below, then ________ L of N2 will ...
Draw an Edgeworth box for two consumers over two goods Draw an Edgeworth box for two consumers over two goods
Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for ... Compute the rate of discount allowed on a rotor-tiller that lists for $341.00 and is sold for ...
Video: Mendel's Pea Experiment

For a complete list of videos, visit our video library