The 2015 operations of Bally company resulted in the following: The cost of goods sold amounted...

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The 2015 operations of Bally company resulted in the following: The cost of goods sold amounted to P3, 500,000. The beginning inventory is P500, 000 greater than the ending inventory, the latter being equivalent to 20% of purchases during the period. Gross profit of the company is 30% of net sales. Total operating expenses amounted to 60% of the gross profit while sales returns amounted to 2% of net sales. The company is subject to income tax rate of 30%. what was the company's net sales for the period? The 2015 operations of Bally company resulted in the following: The cost of goods sold amounted to P3, 500,000. The beginning inventory is P500, 000 greater than the ending inventory, the latter being equivalent to 20% of purchases during the period. Gross profit of the company is 30% of net sales. Total operating expenses amounted to 60% of the gross profit while sales returns amounted to 2% of net sales. The company is subject to income tax rate of 30%. what was the company's net sales for the period?

Answer rating: 100% (QA)

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