Net sales are:
a. gross sales less returns and allowances from customers.
b. gross sales less cost of goods sold.
c. profits less cost of goods sold.
d. cost of goods sold less returns and allowances.
e. gross margin plus fixed expenses.
Answer: A
a. gross sales less returns and allowances from customers.
b. gross sales less cost of goods sold.
c. profits less cost of goods sold.
d. cost of goods sold less returns and allowances.
e. gross margin plus fixed expenses.
Answer: A