Summit Industries has cash sales of $120,000, credit sales of $480,000, sales returns and allowances of $24,500, and sales discounts of $13,800. What are the net sales? a. $561,700 b. $585,200 c. $600,000 d. $638,300
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- The following is select account information for Sunrise Motors. Sales: $256,400; Sales Returns and Allowances: $34,890; COGS: $120,470; Sales Discounts: $44,760. Given this information, what is the Gross Profit Margin Ratio for Sunrise Motors? (Round to the nearest whole percentage.)What are the net sales ?Prentice Company had cash sales of $95,275, credit sales of $84,050, sales returns and allowances of $2,100, and sales discounts of $3,875. Prentice's net sales for this period equal: Multiple Choice $175,450 $177,225. $173,350. $179,325. $95,275.
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