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During 2024, its first year of operations, Hollis Industries recorded sales of $10,100,000 and experienced...

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Accounting

During 2024, its first year of operations, Hollis Industries recorded sales of $10,100,000 and experienced returns of $700,000. Cost of goods sold totaled $7,070,000 (70% of sales). The company estimates that 8% of all sales will be returned. How much net revenue will Hollis Industries report at the end of its first year of operations? Net revenue
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During 2024, its first year of operations, Hollis Industries recorded sales of $10,100,000 and experienced returns of $700,000. Cost of goods sold totaled $7,070,000 ( 70% of sales). The company estimates that 8% of all sales will be returned. How much net revenue will Hollis Industries report at the end of its first year of operations

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