Ingrid’s Fashions sold merchandise for $38,000 cash during the month of July. Returns that month totaled $800. If the company’s gross profit rate is 40%, Ingrid’s will report monthly net sales revenue and cost of goods sold of a. $38,000 and $22,800. b. $37,200 and $14,880. c. $37,200 and $22,320. d. $38,000 and $22,320.

Ingrid’s Fashions sold merchandise for $38,000 cash during the month of July. Returns  that month totaled $800. If the company’s gross profit rate is 40%, Ingrid’s will report  monthly net sales revenue and cost of goods sold of
a. $38,000 and $22,800.
b. $37,200 and $14,880.
c. $37,200 and $22,320.
d. $38,000 and $22,320.
by

1 Answer

Answer :

c. $37,200 and $22,320.
by

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