1. What are three distinct types of costs that manufacturers incur? Describe each of them. 2. When a company gives a cash refund on returned merchandise, why doesn’t it just reduce Sales Revenue...

1. What are three distinct types of costs that manufacturers incur? Describe each of them.

2. When a company gives a cash refund on returned merchandise, why doesn’t it just reduce Sales Revenue instead of using a contra-revenue account?

May 26, 2022