Bargain Buckets offers an unconditional return policy within…

Bargain Buckets offers an unconditional return policy within 60 days. It normally expects 8% of sales at retail selling prices to be returned before the return period expires. Assume Bargain Buckets records total sales of $12.0 million for the current period with associated Cost of Goods sold $6,000,000. How much is the associated allowance for sales returns?