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On November 1, 2025, Alpha Omega, Inc. sold merchandise for $20,000, FOB destination, with payment...

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Question

Accounting

On November 1, 2025, Alpha Omega, Inc. sold merchandise for $20,000, FOB destination, with payment terms, n/30. The cost of goods sold was $6,800. On November 3, the customer returns on this sale amounted $8,000 of merchandise purchased. The company received the balance on November 9, 2025. Calculate the gross profit from these transactions.

Question content area bottom

Part 1

A.

$4,080

B.

$7,920

C.

$2,720

D.

$6,800

Answer & Explanation Solved by verified expert
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