Madison Leather sold merchandise for $91,000 in cash in January. Returns that month totaled $1,000....

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Accounting

Madison Leather sold merchandise for $91,000 in cash in January. Returns that month totaled $1,000. If the company's gross profit
rate is 30%, Madison Leather will report monthly net sales revenue and cost of goods sold of
$92,000 and $62,800.
$90,000 and $63,000.
$92,000 and $74,000.
$90,000 and $64,000.
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