Company A sold merchandise for $171,000 cash during July. Returns that month totaled $3,600. If the company's gross profit rate is 40%, the company will report monthly net sales revenue and cost of goods sold of O $167,400 and $100,440. O $171,000 and $100,440. O $171.000 and $102,600, O $167,400 and $66,960

Company A sold merchandise for $171,000 cash during July. Returns that month totaled $3,600. If the company's gross profit rate is 40%, the company will report monthly net sales revenue and cost of goods sold of O $167,400 and $100,440. O $171,000 and $100,440. O $171.000 and $102,600, O $167,400 and $66,960

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter4: Job Order Costing

Section: Chapter Questions

Problem 6EB: Langstons purchased $3,100 of merchandise during the month, and its monthly income statement shows a...

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