Multiple Choice
On November 1, 2015, Wrenns Martch sold merchandise for $10,000, FOB destination, with payment terms of 3/10, n/40. Sales returns on this sale amounted to $3,000. Wrenns received payment for the balance on November 10, 2015. The cost of goods sold was $3,600. Calculate the amount of gross profit from the transaction.
A) $1,800
B) $3,190
C) $1,320
D) $6,790
Correct Answer:
Verified
Correct Answer:
Verified
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