shelf-pl-shelves May 21, 2022

For Standing Bear Company, sales revenue is $200,000, sales returns and allowances are $5,000, sales discounts are $3,000, and cost of goods sold is $120,000. Net sales is:_________
a) $192,000.
b) $195,000.
c) $ 72,000.
d) $197,000.

answers: 1

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Answer:

The net sales of the given set of data is:

This refers to the addition of a company's gross sales minus the expenses which includes returns, allowances, etc.

The Gross Sales:

Sales revenue: $200,000

Cost of goods sold: $120,000

Total = $200,000 - $120,000

=$80,000

Expenses:

Sales allowances and discounts: $5,000

Sales discounts: $3,000

Total= $5,000 + $3,000

= $8,000

Therefore, net sales = Gross Sales – Returns – Allowances – Discounts

$80,000- $8,000

=$72,000

For Standing Bear Company, sales revenue is $200,000, sales returns and allowances are $5,000, sales discounts are $3,000, and cost of goods sold is $120,000. Net sales is:_________a) $192,000. b) $195,000.c) $ 72,000. d) $197,000.