Hardware Restoration reports net sales of $50,000.If sales returns and allowances are $10,000 and sales discounts are $1,500,what are gross sales?

Question

Quizplus · Accepted Answer

Gross sales can be calculated by adding net sales, sales returns and allowances, and sales discounts together. Therefore, $50,000 (net sales) + $10,000 (sales returns and allowances) + $1,500 (sales discounts) = $61,500.

Hardware Restoration Reports Net Sales of $50,000