To determine net sales,a retailer should subtract _____ from gross sales.

Question

Quizplus · Accepted Answer

Net sales are the total sales revenue generated by a retailer after accounting for returns and allowances, which represent refunds or credits given to customers for damaged or defective merchandise or other issues. Subtracting returns and allowances from gross sales gives the retailer their net sales figure. The other options listed (inbound freight, goodwill, an account receivable, and other expenses) are not used to determine net sales.

To Determine Net Sales,a Retailer Should Subtract _____ from Gross