Maxwell Company's financial information is presented below. Sales Revenue € ???? Cost of Goods Sold €450,000
Sales Returns and Allowances 50,000 Gross Profit ????
Net Sales 750,000
The missing amounts above are:
Sales Revenue Gross Profit

Question

Quizplus · Accepted Answer

Sales Revenue is calculated as Net Sales plus Sales Returns and Allowances (€750,000 + €50,000 = €800,000). Gross Profit is calculated as Net Sales minus Cost of Goods Sold (€750,000 - €450,000 = €300,000).

Maxwell Company's Financial Information Is Presented Below