Ms Treadway's Athletic Shoe Store Had Gross Sales of $62,500

Multiple Choice

Ms. Treadway's athletic shoe store had gross sales of $62,500 in January. Compute her NET SALES for the month from the following data. $$\begin{array} { l c } \text { Sales returns } & \$ 2,500 \\\text { Purchases } & \$ 5,000 \\\text { Markdowns } & \$ 2,000 \\\text { Stockturn rate } & 3\end{array}$$

A) $59,500
B) $5,500
C) $48,000
D) $60,000
E) $3,500