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YMN Had Sales of $1,500,000,including

Question 42

Multiple Choice

YMN had sales of $1,500,000,including:
• $25,000 of goods shipped on consignment to an unrelated company on December 28,2018 and received by that company on December 31,2018
• $20,000 of goods shipped F.O.B.shipping point to a different unrelated party on December 31,2018 and received on January 2,2019.
On its income statement,what amount of net sales should YMN record for 2018?


A) $1,455,000
B) $1,475,000
C) $1,525,000
D) $1,545,000

Correct Answer:

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