Marshall F. Company reported the following year-end amounts:
What is the company's Sales Returns for the year?
A) $ 2,160
B) $ 2,970
C) $ 7,650
D) $10,860

Name: Marshall F. Company reported the following year-end amounts: What is the company's Sales Returns for the year? A) $ 2,160 B) $ 2,970 C) $ 7,650 D) $10,860
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Question

Marshall F. Company reported the following year-end amounts:
 What is the company's Sales Returns for the year?
A) $ 2,160 
B) $ 2,970 
C) $ 7,650 
D) $10,860

Quizplus · Accepted Answer

Total sales - Sales returns - Sales discounts - Cost of goods sold = Gross profit
$33,600 - X - $600 - $21,000 = $4,350
X = $33,600 - $600 - $21,000 - $4,350
X = $7,650

Marshall F. Company Reported the Following Year-End Amounts