In this week’s “What Would You Do” series, I thought we could tackle the topic of merchandise returns. We all probably received something over the holidays that we want to return or exchange.

To start, here are some tips from Mark Huffman at ConsumerAffairs.com that you can keep in mind at any time of the year for hassle-free returns. He writes, “To improve your chances of getting a full refund, provide a sales slip or gift receipt, and return the item in new condition, unopened, and with all original packaging material.”

“Returns without a receipt are subject to the retailer’s posted return policy, which might result in receiving only a merchandise credit for the lowest price the item has sold for in recent weeks, or possibly no refund or exchange at all.”

With Christmas shopping in particular, Bankrate.com suggests that you can make it easier on yourself by keeping and giving receipts. “To simplify, double up on your receipts when you shop. Get gift receipts and regular receipts for each item (a gift receipt is similar to the original but without the prices).”

“Keep the gift slips with the gifts, and keep your own regular receipts in an envelope marked ‘holiday gift receipts’ that way, if you have to return something, you have all the paperwork in one place.”

Those are great lessons to keep in mind for next year. Remember, the key is to be organized… usually the rule of thumb with most matters touching finances.

So as your returning gift this week, here’s the ethics question of the day. Have you ever exploited a retailer’s return policy? Here’s an example: you buy an outfit for the work holiday party and then return it days later.

What would you do? Or better yet, what have you done?

Voice your opinion with other questions in the What Would You Do archive.