- This topic has 0 replies, 1 voice, and was last updated 8 years, 9 months ago by
.
-
Topic
-
Fenn Stores, Inc., had sales of $1,000,000 during December 20X1. Experience has shown that merchandise equaling 7% of sales will be returned within 30 days and an additional 3% will be returned within 90 days. Returned merchandise is readily resalable. In addition, merchandise equaling 15% of sales will be exchanged for merchandise of equal or greater value. What amount should Fenn report for net sales in its income statement for the month of December 20X1?
“or greater value”
yea, in a dream world
- You must be logged in to reply to this topic.
