What pronghorn will report monthly net sales revenue

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Problem 1: Pronghorn's Fashions sold merchandise for $181000 cash during the month of July. Returns that month totaled $3500. If the company's gross profit rate is 30%, Pronghorn's will report monthly net sales revenue and cost of goods sold of

Option 1: $181000 and $126700.

Option 2: $177500 and $53250.

Option 3: $177500 and $124250.

Option 4: $181000 and $124250.

Reference no: EM132710374

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