Simple Inc.had sales of $1,500,000,including:
• $30,000 of goods sold that were on consignment from an unrelated company on December 28,2018
• $10,000 of goods shipped F.O.B shipping point on December 28,2018.
• $20,000 of goods shipped F.O.B.destination point on December 31,2018.
On its income statement,what amount of net sales should Simple Inc.record for 2018?
A)$1,440,000
B)$1,470,000
C)$1,480,000
D)$1,490,000

Question

Quizplus · Accepted Answer

C)$1,500,000 - $20,000 = $1,480,000

Simple Inc.had Sales of $1,500,000,including