Operating expenses $ 50000 Sales returns and allowances 6000 Sales discounts 5000 Sales revenue 140000 Cost of goods sold 86000 The amount of net sales on the income statement would be $140000. $135000. $129000. $134000.

Operating expenses $ 50000 Sales returns and allowances 6000 Sales discounts 5000 Sales revenue 140000 Cost of goods sold 86000 The amount of net sales on the income statement would be $140000. $135000. $129000. $134000.

Intermediate Accounting: Reporting And Analysis

3rd Edition

ISBN:9781337788281

Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach

Chapter7: Inventories: Cost Measurement And Flow Assumptions

Section: Chapter Questions

Problem 4C

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Question

Operating expenses	$ 50000
Sales returns and allowances	6000
Sales discounts	5000
Sales revenue	140000
Cost of goods sold	86000

The amount of net sales on the income statement would be

$140000.

$135000.

$129000.

$134000.

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