Fabulous Mints Company reported the following year-end amounts:
What is the company's Sales Returns for the year?
A) $ 2,880
B) $ 3,960
C) $10,200
D) $14,480

Name: Fabulous Mints Company reported the following year-end amounts: What is the company's Sales Returns for the year? A) $ 2,880 B) $ 3,960 C) $10,200 D) $14,480
Brand: Quizplus
Rating: 4.9 (32 reviews)

Question

Fabulous Mints Company reported the following year-end amounts:
 What is the company's Sales Returns for the year?
A) $ 2,880 
B) $ 3,960 
C) $10,200 
D) $14,480

Quizplus · Accepted Answer

Total sales - Sales returns - Sales discounts - Cost of goods sold = Gross profit
$44,800 - X - $800 - $28,000 = $5,800
X = $44,800 - $800 - $28,000 - $5,800
X = $10,200

Fabulous Mints Company Reported the Following Year-End Amounts