On November 1 2019 Alpha Omega Inc sold merchandise for 20

On November? 1, 2019, Alpha? Omega, Inc. sold merchandise for $ 20 comma 000 $20,000?, FOB? destination, with payment? terms, n/30. The cost of goods sold was $ 6 comma 600 $6,600. On November? 3, the customer returns on this sale amounted to $ 8 comma 000 $8,000. The company received the balance on November? 9, 2019. Calculate the cost of goods sold from these transactions.?? A. $ 8 comma 040 $8,040 B. $ 3 comma 960 $3,960 C. $ 2 comma 640 $2,640 D. $ 6 comma 600 $6,600

Solution

Cost of goods sold = 6600-(6600/20000*8000)= $3960 Option B is correct