In March 20X2, the online retailer Marelia ships 800 units jackets sold at 120 each and paid on ordering. Customers may send the jackets back within 14 days for a refund. Using the previous season's statistics, customer service forecasts that 30 units jackets will be returned; management considers, based on the case data, that this forecast meets the constraint on variable consideration. What amounts of revenue and refund liability does Marelia recognise on delivery?
- Number of jackets shipped
- 800
- Unit selling price
- 120
- Number of jackets expected to be returned
- 30